Holley run out of fuel.

[F Body]

Holley the carburetor and Car-Parts Maker has Filed for Bankruptcy

http://www.bloomberg.com/apps/news?pid=20601103&sid=aBsaKFQDcFqg&refer=news\" target=\"_blank\" rel=\"nofollow\">http://www.bloomberg.com/apps/news?pid=20601103&sid=aBsaKFQDcFqg&refer=news

[Rob]

Hard times in the US....

[Gator]

someone will buy the name im sure

[55starchief]

Quoting: Gator

someone will buy the name im sure

Yup im guessing hop sing will buy it up, then he can make howey carbeweter in china

[EDGE]

[HardRockCamaro]

Wow!

[Roadkill]

"Employees will not be affected by the bankruptcy, and the company will continue operations as normal''

I don't get it.

[55starchief]

Quoting: Roadkill

I don't get it.

I think its whats known as chapter 11, from memory its says that the company can continue to trade but creditors cant touch it or something. Lots of companies in the USA are in chapter 11

edit

Federal bankruptcy laws govern how companies go out of business or recover from crippling debt. A bankrupt company, the "debtor," might use Chapter 11 of the Bankruptcy Code to "reorganize" its business and try to become profitable again. Management continues to run the day-to-day business operations but all significant business decisions must be approved by a bankruptcy court.

[Roadkill]

Ahh, thereby allowing them to clock up more debt.