Auto Parts Co. MSD Seeks Buyer As It Drives Into Ch. 11

Law360, Wilmington (September 6, 2013, 2:23 PM EDT) -- 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.

The company tried to sell...
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