Hoonigan’s Chapter 11 case is over. Wheel Pros, LLC, doing business as Hoonigan, and certain North American affiliates filed voluntary petitions in the U.S. Bankruptcy Court for the District of Delaware on September 8, 2024. The company said its plan would reduce debt and provide new capital; it announced that the court confirmed the plan on October 15 and that the business emerged from Chapter 11 on December 2, 2024.
Who filed for Chapter 11?
The legal filer named in Hoonigan’s announcement was Wheel Pros, LLC, doing business as Hoonigan, along with certain North American affiliates. In the first-day declaration filed with the bankruptcy court, the debtors collectively refer to Wheel Pros and its debtor affiliates as “Hoonigan” or the “Company.” Thus, “Hoonigan filed” is convenient shorthand, but the case involved the named debtor and affiliated entities—not simply a brand name in isolation. Hoonigan’s September 8, 2024 announcement identifies Wheel Pros, LLC as the company doing business as Hoonigan; the first-day declaration filed in the case describes the debtor group.
When did Hoonigan file, and what did Chapter 11 mean for operations?
The voluntary petitions were filed on September 8, 2024, in the U.S. Bankruptcy Court for the District of Delaware. Hoonigan described the transaction as a consensual, prepackaged restructuring supported by an agreement with a majority of its debtholders. The debtors’ court declaration said they would operate as debtors in possession, meaning the filing did not by itself require an immediate shutdown. The company also said it expected to continue operating in the ordinary course during the process.
The announcement said North American-based affiliates were included in the court process, while operations outside North America were not part of that court-supervised restructuring. That describes the stated scope of the 2024 case; it does not establish a current, complete map of Hoonigan’s operations. The company’s filing announcement explains its stated scope and expected business continuity, while the court-filed declaration describes the debtors’ operations.
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What debt and financing terms did Hoonigan announce?
In September 2024, Hoonigan said its restructuring was expected to eliminate approximately $1.2 billion of debt and secure up to approximately $570 million in new capital. The court declaration also described the proposed deleveraging as approximately $1.2 billion. These were announced restructuring terms, not independently audited findings about the company’s finances. The two figures describe different things: the debt reduction and the maximum amount of new capital the company said the transaction could secure.
For the completed restructuring, restructuring counsel Davis Polk reported a $500 million exit term loan and a $175 million exit asset-based revolving loan facility. Those are reported exit facilities, distinct from Hoonigan’s earlier announcement of up to approximately $570 million in new capital. Hoonigan’s September announcement gives the announced debt and capital figures; Davis Polk’s December 4, 2024 case summary reports the exit facilities.
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How did the bankruptcy case end?
- September 8, 2024: Wheel Pros, LLC and certain North American affiliates filed voluntary Chapter 11 petitions in Delaware.
- October 15, 2024: Hoonigan announced that the bankruptcy court had confirmed its plan of reorganization. The company said it would continue ordinary-course operations as it moved toward emergence.
- December 2, 2024: Hoonigan announced that it had completed the restructuring and emerged from Chapter 11.
The confirmation and emergence dates are reported in Hoonigan’s December 2, 2024 announcement; Davis Polk’s December 4 summary also describes the completed case.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What does the filing say about Hoonigan’s business?
The first-day declaration describes an automotive aftermarket business that began with customized wheels and wheel accessories and expanded into suspension systems, lighting, powersports products and digital content. It says the debtor group sold through dealers, distributors, retailers and e-commerce, in addition to its content activities. This background helps explain the business involved in the filing; Chapter 11 emergence alone does not establish how the company performed afterward or whether every product line or brand remains available today.
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