Team Chevelle banner

Holley Bankrupt again

862 Views 1 Reply 2 Participants Last post by  T-Man
Have not seen this yet on the forums hope it's not a repost.

WILMINGTON, Del. (AP) -- Holley Performance, a supplier of high-performance
products to professional racers and street car enthusiasts, has filed again
for Chapter 11 bankruptcy protection.

The Bowling Green, Kentucky company said in a Delaware court filing Monday
that it has been unable to reach an agreement with lenders who say Holley
has defaulted on the debt terms of its 2008 bankruptcy reorganization and
are threatening foreclosure.

The company's business plan after emerging from bankruptcy last year
included growing its original equipment business, which it is now trying to
sell after a deal with Caterpillar for diesel truck engines fell through.

Holley said earlier this year that it was cutting staff and pay and closing
a plant in Mexico.
1 - 1 of 2 Posts
1 - 1 of 2 Posts
This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.