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Barry Grant Inc. Ceases Operations
Barry Grant Incorporated, makers of high performance carburetors and other products for the racing and automotive industry, announced today that it has ceased operations immediately, citing a lack of financial capital to continue operations due to several causes. Based in Dahlonega, Georgia, Barry Grant Inc. was founded in 1984 and is the entity behind five product lines including Demon Carburetors, BG Fuel Systems, Triple-D Induction, Nitrous Works, and Rush Performance Filters.
Barry Grant Inc. filed Chapter 11 bankruptcy amidst the height of the economic downturn in October 2009 and had continued operations in the year since. Below is a prepared statement from company founder and President Barry Grant issued today:
As of today, February 18, 2011 we are ceasing operations at our Dahlonega location and all subsidiary locations. Working with all of you has been the experience of a lifetime. I will value your support as friends, customers, vendors, and media contacts forever. The economic situation has put the company in the position of not being able to find working capital needed to continue operations and get a Chapter 11 reorganization plan through the court. In addition to this, is that all of our equipment has been breaking down causing production delays and further hurting cash flow. Reluctantly now we must convert to Chapter 7 liquidation after 26 years of business.The financial collapse has closed, or has caused severe restructuring of many companies in our industry. Many individuals have lost everything. We have even lost our home. This is the most humbling experience of my life, and I have no future plans at this point. Thank you for your many years of support
Barry Grant Incorporated, makers of high performance carburetors and other products for the racing and automotive industry, announced today that it has ceased operations immediately, citing a lack of financial capital to continue operations due to several causes. Based in Dahlonega, Georgia, Barry Grant Inc. was founded in 1984 and is the entity behind five product lines including Demon Carburetors, BG Fuel Systems, Triple-D Induction, Nitrous Works, and Rush Performance Filters.
Barry Grant Inc. filed Chapter 11 bankruptcy amidst the height of the economic downturn in October 2009 and had continued operations in the year since. Below is a prepared statement from company founder and President Barry Grant issued today:
As of today, February 18, 2011 we are ceasing operations at our Dahlonega location and all subsidiary locations. Working with all of you has been the experience of a lifetime. I will value your support as friends, customers, vendors, and media contacts forever. The economic situation has put the company in the position of not being able to find working capital needed to continue operations and get a Chapter 11 reorganization plan through the court. In addition to this, is that all of our equipment has been breaking down causing production delays and further hurting cash flow. Reluctantly now we must convert to Chapter 7 liquidation after 26 years of business.The financial collapse has closed, or has caused severe restructuring of many companies in our industry. Many individuals have lost everything. We have even lost our home. This is the most humbling experience of my life, and I have no future plans at this point. Thank you for your many years of support
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