Holley Performance Again Files for Bankruptcy - Engine Builder Magazine
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Holley Performance Again Files for Bankruptcy

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The
Associated Press (AP) has reported that high-performance auto parts
maker, Holley Performance, has filed again for Chapter 11 bankruptcy
protection. Holley Performance emerged from a prior prepackaged
bankruptcy plan on March 28, 2008.

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Holley filed for the second time on Monday, after it was unable to
reach an agreement with its lenders. The lenders claim that
Kentucky-based Holley is near foreclosure and has defaulted on the debt
terms of its previous Chapter 11 reorganization plan.

According to the AP, Holley’s post-bankruptcy plan to focus on its
growing OE business did not pan out, and the company is now looking to
sell that division after a deal with Caterpillar for diesel truck
engines fell through.

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