Holley Performance granted interim access to cash collateral

By Caroline Salls

Pittsburgh, Sept. 29 - Holley Performance Products, Inc. received interim court approval to use the cash collateral of its first-lien lenders, according to a Tuesday filing with the U.S. Bankruptcy Court for the District of Delaware.

The final hearing is scheduled for Oct. 14.

As previously reported, Holley requested the access to the cash collateral on a non-consensual basis to fund its operations through Dec. 27.

Without access to the cash collateral, the company said it would be forced to cease its manufacturing operations and furlough or terminate employees.

Holley, a Bowling Green, Ky.-based maker of high-performance carburetors and other automotive engine equipment, filed for bankruptcy on Sept. 28. Its Chapter 11 case number is 09-13333.

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