Unique Performance Files For Chapter 7 Bankruptcy

November 30th, 2007 by CobraMatt

This is really no surprise to anybody who has been following the saga that is Unique Performance.  On November 12th Unique Performance filed for Chapter 7 Bankruptcy ending a company that was flying high for about 5 years with partnerships involving some of the biggest names in the automotive world.

The Timeline goes like this, Lawsuits were filed by disgruntal customers who were not getting thier cars on time, Shelby Autos terminated their licensing agreement on the continuation Shelby GT500E and GT350SR’s, Farmers Branch Police raided Unique’s facility on November 2nd for an alleged title washing scam and seized 61 vehicles, Foose terminated his licensing agreements for all models including the Foose Mustang, Foose Camaro and Foose Challenger, Unique Performance files for Chapter 7 Bankruptcy.

According to Autoweek.com, the terms of Chapter 7 Bankruptcy include Unique Performance ending it’s business operations immediately.  In the filing in U.S. Bankruptcy Court for the Northern District of Texas in Dallas, Unique listed no assests of any kind.  A Dallas legal publication listed Unique’s debts at $1 million to $100 million, but did not list the major creditors.

Check back for more details as we get them.

Source: AutoWeek.com