Holley has also filed for bankruptcy

[James W.]

Holley has also filed for bankruptcy ... can't find the link right now, but they had over $245 million in debt from over expansion in the late 90s. Sounds like they will continue in business, but you have to wonder...

Edit: found it http://www.autoblog.com/2008/02/12/a...or-bankruptcy/

James West
Omaha, NE.

[John H.]

Re: Holley has also filed for bankruptcy

That's correct - Holley filed a "pre-packaged" Chapter 11 a little over a year ago. A friend of mine (Matt Held) was their Media & Trade Show Manager, and he was laid off about six months ago.

[Ridge K.]

Re: Holley has also filed for bankruptcy

Holley has also filed for bankruptcy ... can't find the link right now, but they had over $245 million in debt from over expansion in the late 90s. Sounds like they will continue in business, but you have to wonder...

Edit: found it http://www.autoblog.com/2008/02/12/a...or-bankruptcy/

James West
Omaha, NE.

I use Holley's custom shop for restorative work. The switchboard still answers, but my calls to the custom shop voice mail go unanswered. Not a good sign for customers of Holley. Ridge

[Jack H.]

Re: Holley has also filed for bankruptcy

Under Chapter 11, they could be stronger/better than they were before! The problem today is finding DIP financing to support a Chapter 11 protection plan.

As we all read/know, banks have simply hauled in their horns regarding loan packages. The reason is pretty straight-forward, they operate under liquidity regulations and if you've noticed what's happened recently to bank stock prices (and the stock market in general), it's small wonder there's a dramatic reduction in loans outstanding!

BTW, the abbreviation is legalize for debtor-in-possession...