Auto Parts Co. MSD Seeks Buyer As It Drives Into Ch. 11
By Matt Chiappardi
Law360, Wilmington (September 06, 2013, 2:23 PM ET) -- Aftermarket high-performance auto parts maker MSD Performance Inc. filed for Chapter 11 protection Friday in Delaware, aiming to sell the business as a going concern and after making several acquisitions at the top of the cycle that left it with a high debt burden and liquidity constraints.
MSD listed between $100 million and $500 million in debts against $50 million to $100 million is assets, and its filing comes the same day a forbearance agreement with lenders was due to expire.