Holley Performance Files For Bankruptcy

WILMINGTON, Del. (AP) -- Holley Performance, a supplier of high-performance products to professional racers and street car enthusiasts, has filed again for Chapter 11 bankruptcy protection.

The Bowling Green, Kentucky company said in a Delaware court filing Monday that it has been unable to reach an agreement with lenders who say Holley has defaulted on the debt terms of its 2008 bankruptcy reorganization and are threatening foreclosure.

The company's business plan after emerging from bankruptcy last year included growing its original equipment business, which it is now trying to sell after a deal with Caterpillar for diesel truck engines fell through.

Holley said earlier this year that it was cutting staff and pay and closing a plant in Mexico.

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