holley filing for bankrupcy.

[jick]

sad news.....from the HAMB,   Holley on the verge of going under

While this has been a long time coming it is still another sad sign of the times


Tuesday, March 3, 2009 7:33 PM EST
Bowling Green, Ky.-based Holley filed for bankruptcy after years of out-of-court restructurings hiked Holley's interest costs. Last year, equity owner Kohlberg & Co. LLC stopped contributing cash that allowed Holley to service its debt…… As of Jan. 28, Holley's books showed assets of $106 million and debts of about $243 million. Besides the $40 million bank debt, the company's liabilities included about $150 million in bond debt.
e HAMB.

[benssp]

aren't they part of Mr Gasket?

[SteveW]

No Holley own Holley, Hooker Headers, Earl's, Weiand, NOS and Flowtech.

Bad news 

[Sam K]

That's crazy! Now where am I going to buy mediocre fuel pumps and regulators from?

[deano]

Crane Cams closed their doors last week....

[58vw]

somebody will buy them or the right to the product.......or maybe they will get a bailout

[low oval]

Crane Cams closed their doors last week....

they reopened monday, or are in the process of reopening.  I bet holly does the same.

[Russell]

sad but true..... let the company go to the wall, the creditors all lose and the owners restart the next week after buying the assets for a song !!!! should be outlawed.   

[ESH]

... Now where am I going to buy mediocre fuel pumps and regulators from ...

Not wishing to trivialise the situation for the company but that's pretty funny.

[bugkeeper]

Well better mediocre Holley pumps than the unsound Chinese copy... they cost almost the same, but are loud, have 3 times higher power consumption, deliver less fuel and do not hold a season. I think it is very sad if a company with such a long history goes down the tubes. I hope they will be bought like Crane. If companies like that disappear from the surface how long will other companies closer to the VW Performance Parts industry survive? 

[ESH]

Crane Cams closed their doors last week....

 

LIQUIDATION OF CRANE CAMS, INC. ANNOUNCED

Complete High Performance Camshaft Manufacturer
All Machinery, $2+ Million in Inventory, 16 Trademarks & 3 Patents for Sale

LiquiTec Industries, Inc. has been engaged to liquidate the assets of Crane Cams, Inc., one of the world's largest independent manufacturers of camshafts, valve train components and electrical ignition systems for the performance industry. Established in 1953, Crane Cams. is a brand name recognized for high quality, precision products that are race-proven to withstand the rigors of competition. Product applications include automotive, motorcycle, marine, aircraft and other specialty markets.

The sale includes all machinery; all raw materials, work-in-process and finished goods including over $2 million of high performance and racing application engine components including camshafts, rocker arms, lifters and other parts for most GM, Ford and Mopar engines; 16 patents and three patents.

LiquiTec is accepting bids now for inventory, trademarks and patents. An auction sale of all remaining inventory and machinery will take place on Wednesday, April 22, 2009 at the company's former headquarters in Daytona Beach, Florida. The sale will also be broadcast over the internet via BidSpotter.com. For more information or to register to attend the sale, contact LiquiTec at (800) 852-9252.

[67worshipper]

That's crazy! Now where am I going to buy mediocre fuel pumps and regulators from?

its the noise the pumps make that grate me so much

[Russell]

well i like Holey pumps, they work, they last and they dont leak, anyway who can hear them at 7000plus rpm........

Plus Earls fuel fittings are superb, we need them. And all the Jap cars ned NOS to compete with as twin 48 boys 

[rick m]

Russell,

Your Assets vs. Liabilities comment was spoken like a true businessman.  Glad to know some VW guys understand the business world.  Great products that are in demand and loyal customers, good cash flow, strong cash reserves and low or no debt, high GP, low costs of sale and low overhead,  all make for a sound business model. So many companies leverage themselves to the hilt...and in the end...we all pay.

However, when markets lag and stall, even the best of companies can get hurt.  Sure makes for some great buys out there when markets are plunging.

Rick M
Surprise, AZ