Holley files bankrupcy!

DK832

New Member

Apr 11, 2006

291

0

0

Copenhagen, DK

Feb 15, 2008

#1

• Feb 15, 2008

• #1

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

Founding Member

Sep 19, 2002

1,993

2

49

Virginia

Feb 15, 2008

#2

• Feb 15, 2008

• #2

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

 

CraigMBA

New Member

Mar 24, 2007

783

1

0

Orange, CA

Feb 15, 2008

#3

• Feb 15, 2008

• #3

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

 

Fast63

New Member

Sep 20, 2007

717

0

0

Feb 15, 2008

#4

• Feb 15, 2008

• #4

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

 

6

68EFIvert

Member

Jan 13, 2007

639

0

17

Camas, Washington

Feb 15, 2008

#5

• Feb 15, 2008

• #5

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

 

enferno

Member

Jun 20, 2006

418

2

16

Feb 15, 2008

#6

• Feb 15, 2008

• #6

68EFIvert said:

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

Click to expand...

too bad their carter design will still blow

 

6

65kcode

Member

Mar 31, 2007

73

0

6

Deer Park, WA

Feb 15, 2008

#7

• Feb 15, 2008

• #7

enferno said:

too bad their carter design will still blow

Click to expand...

It only caught on fire once in my car!

Kevin

 

M

mustangman1974

Member

Jan 17, 2004

463

0

16

Feb 15, 2008

#8

• Feb 15, 2008

• #8

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

Founding Member

Apr 21, 2002

3,870

73

109

Pensacola FL

Feb 15, 2008

#9

• Feb 15, 2008

• #9

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.

 

1

1970rs

New Member

Feb 13, 2008

0

0

0

Feb 15, 2008

#10

• Feb 15, 2008

• #10

Please refer to this thread.

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

Thanks
Jay

 

M

mikethebike

Member

Jun 12, 2007

358

0

17

Greenville, SC

Feb 15, 2008

#11

• Feb 15, 2008

• #11

ratio411 said:

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.

Click to expand...

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.

 

M

mustangman1974

Member

Jan 17, 2004

463

0

16

Feb 16, 2008

#12

• Feb 16, 2008

• #12

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

 

D

danny clemens

Member

May 4, 2005

728

0

16

Feb 16, 2008

#13

• Feb 16, 2008

• #13

enferno said:

too bad their carter design will still blow

Click to expand...

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

 

enferno

Member

Jun 20, 2006

418

2

16

Feb 16, 2008

#14

• Feb 16, 2008

• #14

danny clemens said:

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

Click to expand...

not when they spit fire out the top!