Holley Returns To Ch. 11 Amid Plummet In Sales

Law360, New York (September 28, 2009, 2:12 PM EDT) -- Holley Performance Products Holdings Inc., which supplies parts for race cars, filed its second bankruptcy petition in less than two years Monday, citing a sharp drop in sales and threats of foreclosure from its first-lien lenders.

Holley filed its Chapter 11 petition and first-day motions in the U.S. Bankruptcy Court for the District of Delaware, listing assets between $0 and $50,000 and debts of $100 million to $500 million.

The car parts maker, which had emerged from bankruptcy in March 2008, experienced a 40 percent drop...
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