Holley, the over 100 year old company famous for their performance carburetors and other components have filed for bankruptcy now twice in just two years.

Holley had filed in 2008 and emerged not long after swapping their equity for 95 million in second lien debt.

The Company, which owns such others as Nitrous Oxide Systems, Flowtech, Weiand and Hooker, said that sales flopped a brutal 40% after emerging from their first chapter 11 filing.

Company Co-CEO and CFO Thomas Tomlinson said that the second filing came after debt holders threatened to foreclose on Holleys assets after Holley rejected a forbearance proposal by debt-holders including Wells Fargo, as the administrative agent, and Regiment Capital Special Situations Fund IV LP, which Tomlinson said would have taken $2.5 million out of the business.

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