[AMC-list] Holley Performance Again Files for Bankruptcy

["Bruce Hevner" <scramblr@xxxxxxxxxxx>]

Holley Performance Again Files for Bankruptcy

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.

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.

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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