Barry Grant closes
- Thread starter Tim M
- Start date
A Snake
Member #024
You just don't know anymore who or what will fall by the wayside.
This is a shame.
This is a shame.
The S.O.B. took off with employees 401k contributions, all money they could get hands on and no final pay checks, its said and he and his wife went overseas. Closed friday at noon, got call from kevin at the holley NHRA display trailer
I never like to see any business suffer, but their quality seemed to dip the past few years and there's more than a few eager folks to compete against Holley.
Update : he stripped company of all assets, behind on payments to suppliers and got cut off from zinc supplier 1st of month, has back log of repairs under warranty, was not paying in on employee's 401 k last paycheck none, behind on payroll taxes and was headed to indonesia with his wife. Shame of it he made some good products. I hope somebody picks the line up he basically took the holley carb and made improvements to it. Was a employee of holley at 1 time. Built some of the best fuel pumps and regulators.
Holley still not out of the woods yet
Aftermarket parts maker Holley files for bankruptcy
by John Neff (RSS feed) on Feb 12th 2008 at 11:37AM
Most of us on the Autoblog team never restored a classic with our dads in the family garage, thus our connection to aftermarket parts manufacturer Holley is somewhat limited. But we can appreciate the mark that this 100+ year old company and its many brands including Hooker Headers, Earl's, Weiand, NOS and Flowtech have left on the performance aftermarket scene. That's why we're sad to report that the company has recently filed for bankruptcy, citing its rapid expansion in the late '90s as the cause for its downfall.
Not all is lost, as bankruptcy for a company in the U.S. just means you get some time to reorganize and pay off your debts, hopefully reemerging as a stronger company in the end. As such, Holley wlll continue to operate as normal for the time being and none of its 390 employees spread across Kentucky, California and Mississippi will be affected. Paying off its debt will likely require the company to give nearly all its equity away to debtors, though those holding notes will only get half of what they're owed if a bankruptcy judge approves the reorganization plan. Thanks for the tip, Tobias!
Many reports they are slow to bad pay and very slow to warranty products.
Aftermarket parts maker Holley files for bankruptcy
by John Neff (RSS feed) on Feb 12th 2008 at 11:37AM
Most of us on the Autoblog team never restored a classic with our dads in the family garage, thus our connection to aftermarket parts manufacturer Holley is somewhat limited. But we can appreciate the mark that this 100+ year old company and its many brands including Hooker Headers, Earl's, Weiand, NOS and Flowtech have left on the performance aftermarket scene. That's why we're sad to report that the company has recently filed for bankruptcy, citing its rapid expansion in the late '90s as the cause for its downfall.
Not all is lost, as bankruptcy for a company in the U.S. just means you get some time to reorganize and pay off your debts, hopefully reemerging as a stronger company in the end. As such, Holley wlll continue to operate as normal for the time being and none of its 390 employees spread across Kentucky, California and Mississippi will be affected. Paying off its debt will likely require the company to give nearly all its equity away to debtors, though those holding notes will only get half of what they're owed if a bankruptcy judge approves the reorganization plan. Thanks for the tip, Tobias!
Many reports they are slow to bad pay and very slow to warranty products.