Holley, Files Bankruptcy

[Tommy]

Isn't this the same thing Kmart did a few years ago ? They just restructured and are still all over the place although most are called "Big Kmart" now.

Tommy

[YENKO DEUCE REGISTRY]

K-Mart was bought by Sears.

[SOM2001SS]

[ QUOTE ]
K-Mart was bought by Sears.

[/ QUOTE ]I am 99% sure it is the other way around; K-mart Bought Sears!!! (which I can't believe either)

I'd hate to see Holley disappear

[YENKO DEUCE REGISTRY]

Sears bought K-Mart who was in bankruptcy - almost possible.

[VintageMusclecar]

[ QUOTE ]
I'd hate to see Holley disappear

[/ QUOTE ]

Again...read post #12 in this thread.

Eric

[JoeG]

They're doing something on my Holley 3bbl for me...It doesn't seem you need to jump ship just yet.......

[YENKO DEUCE REGISTRY]

It's just a re-org, it happens frequently with overleveraged companies - generally under the guidance of the bankruptcy court who appoints 'administrators' to guide the process. Once the creditors approve the re-org plan, the company normally emerges from bankruptcy. In this case it appears the tier 1 secured creditors took equity (actual ownership) in the company in exchange for their borrowings - IMHO this is a good sign bec/ it indicates that the creditors believe there is value to be realized in the product pipeline if the management team is given some financial room to capitalize on the opportunities!

Some might think of Holley as a 'dead' brand, but hopefully this event will allow them to reinvent themselves with some new products, while still providing service & support to 30+ years of an installed base of loyal customers.

PS: I should write this stuff for a living, that sounds pretty positive!

[Tommy]

Wonder if Holley carbs will all have an "AMF" badge on them for a few years ... Worked for someone else a few years ago



Tommy

[YENKO DEUCE REGISTRY]

That had to be one of the strangest combinations in history!