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#1
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Holley Carbs
Taken from Hemmings Motor News
Holley declares bankruptcy After 100 plus years in business, Holley has announced it is seeking protection from creditors by declaring bankruptcy. While this does not mean that the company is going out of business, it does mean that Holley has to reorganize and pay off debts. Holley has likely made millions of carburetors since its inception, and in the 1990s experienced rapid expansion. Its holdings include: Hooker Headers, Earl’s, Weiand, NOS and Flowtech. Company officials cited this rapid expansion as the major reason for its downfall. They simply got too big too fast. But don't worry; Holley is still operating, and none of its 390 employees spread across Kentucky, California and Mississippi will be affected, according to the company. Company CEO James D. Wiggins said in a prepared statement: “We are very pleased with the transformation that has taken place here at Holley over the last several years. Today, Holley is a lean and focused enterprise with strong customer relationships, significant technological capabilities and diversified revenue sources. We have established a good track record of profitability and growth in enterprise value. This restructuring represents the culmination of tremendous effort on the part of the team at Holley and we are excited to share the news of this successful program.” |
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#2
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Holley Carbs
Spike > wrote in
: > Holley declares bankruptcy > After 100 plus years in business, Holley has announced it is seeking > protection from creditors by declaring bankruptcy. While this does not > mean that the company is going out of business, it does mean that > Holley has to reorganize and pay off debts. Not too hard to understand. EFI is entrenched since the mid 80s, and the only people who still buy carbs are racers and classic car enthusiasts. |
#3
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Holley Carbs
Time, sadly, marches on. I just hate to see companies like this fade
away. Kinda explains why Edelbrock and some others have begun producing aftermarket EFI systems. |
#4
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Holley Carbs
Wow, just bought a Holley for my '71 M-code. Car loves it.
Maybe I should buy a couple more. mike "Spike" > wrote in message ... > Taken from Hemmings Motor News > > Holley declares bankruptcy > After 100 plus years in business, Holley has announced it is seeking > protection from creditors by declaring bankruptcy. While this does not > mean that the company is going out of business, it does mean that > Holley has to reorganize and pay off debts. > > Holley has likely made millions of carburetors since its inception, > and in the 1990s experienced rapid expansion. Its holdings include: > Hooker Headers, Earl's, Weiand, NOS and Flowtech. Company officials > cited this rapid expansion as the major reason for its downfall. They > simply got too big too fast. > > But don't worry; Holley is still operating, and none of its 390 > employees spread across Kentucky, California and Mississippi will be > affected, according to the company. > > Company CEO James D. Wiggins said in a prepared statement: "We are > very pleased with the transformation that has taken place here at > Holley over the last several years. Today, Holley is a lean and > focused enterprise with strong customer relationships, significant > technological capabilities and diversified revenue sources. We have > established a good track record of profitability and growth in > enterprise value. This restructuring represents the culmination of > tremendous effort on the part of the team at Holley and we are excited > to share the news of this successful program." |
#5
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Holley Carbs
elaich wrote:
> Spike > wrote in > : > >> Holley declares bankruptcy >> After 100 plus years in business, Holley has announced it is seeking >> protection from creditors by declaring bankruptcy. While this does not >> mean that the company is going out of business, it does mean that >> Holley has to reorganize and pay off debts. > > Not too hard to understand. EFI is entrenched since the mid 80s, and the > only people who still buy carbs are racers and classic car enthusiasts. They should have paid attention and gotten deeper into the EFI market like Edelbrock did. -- "Yah know I hate it when forces gather in ma' fringe..." - Sheogorath "Daytime television sucked 20 years ago, and it still sucks today!" - Marc Bissonette |
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