HPF out of business today...?

[jake06]

Wow... Speechless.
What a loss to our community, I always really looked up to the work Chris did over there. Hope him and the other employees continue to tune BMW's, it would be a complete waste of talent otherwise.

[ccsykes]

Sounds shady

Chris spent to much money on flashy things and fueling his ego. Simple mismanagement is all.

- - - Updated - - -

The kit now belongs to me as their highest creditor.

You can come invest in my start-up and I'll make your money back lol.

[1sloE36]

Just sad. Having $250k taken away from the bottom line is crippling for a small business. Chris, Kirk, and the rest of the crew were nothing but fantastic whenever I met them, you too Derek. Seeing any company go from main sponsors to the two major events out west to bankrupt sucks, and is only detrimental to the whole community. I hope everything works out and wish the best to those currently involved.

Derek, if you're open to ideas shoot me a PM.

[5mall5nail5]

chris spent to much money on flashy things and fueling his ego. Simple mismanagement is all.

smh.

[E30Alpina]

They were great to us at the shop with great dealer pricing etc as well as support. Shit happens, hope all the employees move on to great things. Mr. Radowski just became the go to guy overnight ( not that he wasn't before) but his e46 biz should grow exponentially.

[GG///M3]

Seems like a lot of guys maybe going with stock dme's. Unless Chris opens up another shop, and picks up where he left off with HPF. Apparently someone called them up before the news got out, and he left them a 5,000 deposit over the phone. Hope he gets his monies back.

[Pierre3400]

http://webcache.googleusercontent.co...&ct=clnk&gl=us

RIP. I always had dreams of owning HPF parts.

[Z3speed4me]

Wow, talk about door opening, someone just kicked the whole wall down for Max PSI, unfortunately at the expense of others

Too bad for people with kits that have no service anymore, especially recent customers...

[gary88]

Big loss for the BMW community.

[beeasy]

Yup buddy of mine just sent a 5k deposit for a motor build. We just finished packing the motor up sunday night and was supposed to ship monday morning.

[Z3speed4me]

Yup buddy of mine just sent a 5k deposit for a motor build. We just finished packing the motor up sunday night and was supposed to ship monday morning.

Ship it to Linden, NJ.....

[beeasy]

On our way now ken

[futureroadracer]

Ship it to Linden, NJ.....

+1

No check engine light, stock management and more power on a 100% stock engine!

[mrf]

Some of you guys saying this was mismanaged must know nothing about business. In fact, this situation has been really well managed to minimize damage. A few years ago when this went down, they knew their insurance wouldn't cover it and it would take a while for the effects to show. They also knew they would have to file for 'Chapter 11' eventually. So, they acted accordingly... Minimize liquid assets.

I'd guess all that work there will be back in a few months under a different company name. Same business, different legal name.

[Z3speed4me]

Horsepower Fakes or Horsepower Fraud

Did I spell that wrong...?

[E36 HateR]

Horsepower fakes

[someguy2800]

I refuse to believe that a company that size could not absorb a 200k expence uless they were in serious finacial trouble to begin with. You just can't run retail company like that with millions of dollars of inventory without some amount of capital and credit to back up your purchasing power, cover facilities costs, payroll, employee benefits, taxs ect... This was just the straw that broke the camels back on an allready failing buissiness.

I will give him kudos for shutting down when he did rather than driving the company into the ground for another year on credit then declaring bankruptcy, which is of course the normal for situations like this.

[5mall5nail5]

I feel bad for the employees

[M5Hunter]

This is sad to see. I feel bad for those guys and I also feel bad for the e46 community. They got a lot of hate, but they were doing work. They had an impressive product and seemed to stand behind their work. Personal feelings aside, everyone has to feel like a piece of the Turbo BMW world is gone.

[redfoot]

What's the word on return of deposits and unfinished work?

[EE05063]

Some of you guys saying this was mismanaged must know nothing about business. In fact, this situation has been really well managed to minimize damage. A few years ago when this went down, they knew their insurance wouldn't cover it and it would take a while for the effects to show. They also knew they would have to file for 'Chapter 11' eventually. So, they acted accordingly... Minimize liquid assets.

I'd guess all that work there will be back in a few months under a different company name. Same business, different legal name.

But with that much advance notice, why wouldn't you put away the money to absorb the hit once a determination came? Why would you drive your business name and reputation completely into the ground over a couple hundred thousand dollars? They were obviously turning enough work to put away that much in a couple years. The only reason they couldn't to me would be A. wayyyy too much overhead, nobody is making money or B. someone was still stuffing their pockets full and just decided to take the easy way out and do the bankruptcy deal. My guess is the business owners probably had a lifestyle they would have to give up in order to put away that cash and it didn't happen.

It's easy to armchair QB, but it seems so completely avoidable.

[rukman]

This is sad to see. I feel bad for those guys and I also feel bad for the e46 community. They got a lot of hate, but they were doing work. They had an impressive product and seemed to stand behind their work. Personal feelings aside, everyone has to feel like a piece of the Turbo BMW world is gone.

Sad to see for the employees. But with good skill sets they should find similar work.

In the end not a real loss to the FI community in terms of turbo choices for s54.

Prospective owners have a equally if not more impressive alternative to fill the void at a much more competitive price.

Unfortunately the lack of diversification of product (basically building your whole biz on a turbo kit for a single platform) and other areas of either mismanagement or inexperience led to their demise.

[mrf]

But with that much advance notice, why wouldn't you put away the money to absorb the hit once a determination came? Why would you drive your business name and reputation completely into the ground over a couple hundred thousand dollars? They were obviously turning enough work to put away that much in a couple years. The only reason they couldn't to me would be A. wayyyy too much overhead, nobody is making money or B. someone was still stuffing their pockets full and just decided to take the easy way out and do the bankruptcy deal. My guess is the business owners probably had a lifestyle they would have to give up in order to put away that cash and it didn't happen.

It's easy to armchair QB, but it seems so completely avoidable.

I know I haven't kept up to date with everything but, is the business name really ruined? Did they steal people's money? If not, they can just claim 'it had to be done' to start with a clean slate.

[DocWyte]

How the heck did they not notice a theft of $200k? I can see less than $25k getting missed, but anything over that would certainly fire off warning bells for me in my business.

Glad to see the guy got jail time, many times those cases don't get prosecuted.

[5mall5nail5]

ITT everyone knows how to manage a large, successful business.