Holley files bankrupcy!

[DK832]

Holley files bankruptcy

http://www.bloomberg.com/apps/news?pid=20601103&sid=aBsaKFQDcFqg&refer=news
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aSmMfqFe4LI4

Ouch... One CFO with a bad resume. At least it's a controlled "technical" bankruptcy.
Are they selling of any of the acquired brands?

 

[NasaGT]

I guess the good news is "Employees will not be affected by the bankruptcy, and the company will continue operations as normal''

 

[CraigMBA]

I think the aquired brands are exactly why they are in bankrupcy.

 

[Fast63]

I can just see this being used in the Holley vs. Edelbrock carb debate

 

[68EFIvert]

It looks like a good time for Edelbrock to come in and expand their carb line.

 

[enferno]

It looks like a good time for Edelbrock to come in and expand their carb line.

too bad their carter design will still blow

 

[65kcode]

too bad their carter design will still blow

It only caught on fire once in my car!

Kevin

 

[mustangman1974]

wow looks like holley will get liquidated they are given up all their assests and cash. hehe the holley edlebrock debate is OVER. Edlebrock won by means of better product and business model. yeah yeah. Gona suck for for us classic car owners I think that the aftermarket community will shrink in the coming months ans years

 

[ratio411]

It is a reorganization, not a liquidation.
Chapter 11 vs Chapter 7/13.

It allows them to thoroughly absorb the various branches of the company into a more streamlined setup... at least that is how I understood it.

 

[1970rs]

Please refer to this thread.

http://forums.stangnet.com/showthread.php?t=738149&highlight=holley

Thanks
Jay

 

[mikethebike]

It is a reorganization, not a liquidation.
Chapter 11 vs Chapter 7/13.

It allows them to thoroughly absorb the various branches of the company into a more streamlined setup... at least that is how I understood it.

Chapter 11 also protects them from creditors demanding payment and allows them to adjust their accouts payable to fall in line with their cash flow. 13 on the other hand is appropriatly named. 13 is the end of the line.

 

[mustangman1974]

very few companies come back from chapter 11 they usually come out just to go into chapter 13. I actually hope not my 68 is all holley fuel stuff. Pain as it is to get parts from the local parts store. they are always out of stock

 

[danny clemens]

too bad their carter design will still blow

I thought when referring to a carb that you would say they suck.

 

[enferno]

I thought when referring to a carb that you would say they suck.

not when they spit fire out the top!