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Thread: HPF out of business today...?

  1. #1
    Join Date
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    Check this link out:

    http://forum.e46fanatics.com/showthread.php?t=985812

    (I believe it may be against the rules to post links to other forums, but I believe this is an exception because HPF has been a big member of the e46 m3 FI community.)


    I honestly don't know what to think. I remember watching their first videos on YouTube before I was even a member here.
    This is my signature....

  2. #2
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    Wow, that sucks...
    OLD
    E30

    636whp
    1/4 mile: 10.91@144.38
    http://www.youtube.com/watch?v=L_f7fUVqblI

    NEW BUILD
    335d BPC Stage 3 Tune

    471whp
    635wtq
    And climbing...




  3. #3
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    I had a feeling this was gonna happen sooner or later.. You ever see the size of that place!!! Definitely not necessary, They also had that employee that supposably pulled that scam on them a few years back.. Who knows there could be a million reasons behind it.. Im sorry for those employees and those that recently payed for a kit...

  4. #4
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    Out of Service

  5. #5
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    turbo S50 WIDE e30
    No way they were just posting last week about all the new E46 hood R&D and whatnot.
    Dinan Custom Intercooled S/C M3 01' 740 Sport 03' 745i
    A Few Harleys
    Piper Cherokee

  6. #6
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    Quote Originally Posted by cragg56 View Post
    I'm guessing it's not true.
    My first guess too, but they been selling off quite a bit for "upcoming projects."
    This is my signature....

  7. #7
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    Quote Originally Posted by cragg56 View Post
    I'm guessing it's not true.
    Why?

    I honestly thought something was up when Chris listed the drag car and then the roadrace car for sale. Crazy
    OLD
    E30

    636whp
    1/4 mile: 10.91@144.38
    http://www.youtube.com/watch?v=L_f7fUVqblI

    NEW BUILD
    335d BPC Stage 3 Tune

    471whp
    635wtq
    And climbing...




  8. #8
    Join Date
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    35D X5, 335d
    The fanatics thread is growing and providing more info... It's definitely for real. Crazy!
    Last edited by futureroadracer; 05-06-2013 at 11:47 PM.
    OLD
    E30

    636whp
    1/4 mile: 10.91@144.38
    http://www.youtube.com/watch?v=L_f7fUVqblI

    NEW BUILD
    335d BPC Stage 3 Tune

    471whp
    635wtq
    And climbing...




  9. #9
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    97 M3/4/5, MCS
    wait and see, Chris closes the door only to open up another shop in another name.

  10. #10
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    Quote Originally Posted by MarketMaster View Post
    wait and see, Chris closes the door only to open up another shop in another name.
    Moving into the e90 platform...

  11. #11
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    Quote Originally Posted by MarketMaster View Post
    wait and see, Chris closes the door only to open up another shop in another name.
    Quote Originally Posted by 1SickM View Post
    Moving into the e90 platform...
    Sounds shady

  12. #12
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    Quote Originally Posted by MarketMaster View Post
    wait and see, Chris closes the door only to open up another shop in another name.
    Quote Originally Posted by 1SickM View Post

    Moving into the e90 platform...
    Are these assumptions or?
    This is my signature....

  13. #13
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    terrible news for HPF.......looks like Radowski got his kit rolling right on time though!

    Get em Mike!

  14. #14
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    I think it's time to allow Sigma back now.

    Unbann Sigma
    Last edited by GG///M3; 05-06-2013 at 10:41 PM.

  15. #15
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    Quote Originally Posted by BadBoostedBmwM3 View Post
    Are these assumptions or?
    No doubt it is assumptions but i've seen too many of these shops run the same way. Just give it time. He will be back under a different name. IMO of course.

  16. #16
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    So an employee theft that occurred two years ago that ended up in a $175,000 loss for a company that size two years later.... that could have easily been prepared for.... was enough to close the doors on a days notice?

    Did I read that correctly?
    My M3 is 1 of 2

  17. #17
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    I feel terrible for the employees. They built some clean cars.

    On the other hand, I'll just leave this right here.... http://www.youtube.com/watch?v=-L7YN...ature=youtu.be

  18. #18
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    Losing in court and closing up the next day is asset protection 101. Sounds like bankrupcy.


    And the dude in the other thread claiming he has rights to all partial kits and parts has a big reality check coming to him if it is indeed bankruptcy.
    Last edited by redfoot; 05-06-2013 at 11:18 PM.

  19. #19
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    Quote Originally Posted by redfoot View Post
    Losing in court and closing up the next day is asset protection 101. Sounds like bankrupcy.


    And the dude in the other thread claiming he has rights to all partial kits and parts has a big reality check coming to him if it is indeed bankruptcy.
    They could have put away $175k over the last two years and avoided all of that altogether. Or did I miss something? Sure there's attorneys fees and such but this seems like piss poor planning.
    Last edited by indianajames; 05-06-2013 at 11:24 PM.
    My M3 is 1 of 2

  20. #20
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    Wow !!! How sad !!!


    Sent from my iPhone using Tapatalk
    i got these parts for sale

    front corner light for a 4 door E36 $20plus shipping
    headlight eyebrows $20 plud shpping
    M3 OEM radiator $100 plus shipping
    M52 cams with trays high miles $150 shipped
    M3 front calipers $150 plus shipping
    18x8 offsed 35, front 18x10 offset 40 rear bsa motorsports wheels $400 plus shipping
    obd2 valve covers $50 plus shipping
    intake manifolds $50 plus shipping
    estoril blue doors of a 96 M3 2door $200 plus shipping each
    rear glass $50 plus shipping
    rear trunk lid $150 plus shipping

    new 1/4 is 800 ft away ))

  21. #21
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    Im sorry for those employees and those that recently payed for a kit

  22. #22
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    Quote Originally Posted by redfoot View Post
    Losing in court and closing up the next day is asset protection 101. Sounds like bankrupcy.


    And the dude in the other thread claiming he has rights to all partial kits and parts has a big reality check coming to him if it is indeed bankruptcy.
    I have been working with Chris B. trying to find a solution, but none was found. This is a direct result of more than $200,000 being stolen by a former employee, he was very sneaky in wire and credit card fraud . HPF's insurance only covered $25,000.00, when the HPF lost it's lawsuit today against the insurance agent and company it spelled the end. Dave received 38 months in jail, but the entire community lost out on this. Remember what it takes to bring in $200,000 net income, thats over $580,000 gross sales on top of your normal sales. Add in a 28% rent increase plus higher insurance rates due to the theft and higher processing fee's due to the theft it add's up. Not to mention $200,000 in charge backs to deal with and penalties and attorneys fees, there was no way to save it and I did not feel it was smart to throw anymore money on a sinking ship. A sad day for the entire community. And there is no surprise for me, paperwork is done. The kit now belongs to me as their highest creditor. I'm working with AEM to revive the kit when the infinity comes out, until then we all just wait. There is nothing shady and there will be no bankruptcy, business is closed. Shittty day for sure.
    Last edited by ForceFed M3; 05-07-2013 at 12:39 AM.
    HPF Stage 2.75 #001

  23. #23
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    No umbrella policy?

  24. #24
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    Quote Originally Posted by jajou318 View Post
    No umbrella policy?
    No Chris had another company bid on his insurance costs trying save some just before the theft occurred, he found a better company and switch insurance policies. Only problem is they changed the theft section from $250,000 to $25,000, Chris didn't catch it.
    HPF Stage 2.75 #001

  25. #25
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    Quote Originally Posted by ForceFed M3 View Post
    I have been working with Chris B. trying to find a solution, but none was found. This is a direct result of more than $200,000 being stolen by a former employee, he was very sneaky in wire and credit card fraud . HPF's insurance only covered $25,000.00, when the HPF lost it's lawsuit today against the insurance agent and company it spelled the end. Dave received 38 months in jail, but the entire community lost out on this. Remember what it takes to bring in $200,000 net income, thats over $580,000 gross sales on top of your normal sales. Add in a 28% rent increase plus higher insurance rates due to the theft and higher processing fee's due to the theft it add's up. Not to mention $200,000 in charge backs to deal with and penalties and attorneys fees, there was no way to save it and I did not feel it was smart to throw anymore money on a sinking ship. A sad day for the entire community. And there is no surprise for me, paperwork is done. The kit now belongs to me as their highest creditor. I'm working with AEM to revive the kit when the infinity comes out, until then we all just wait. There is nothing shady and there will be no bankruptcy, business is closed. Shittty day for sure.

    Totally makes sense to me, and what I said was not a shot or slam to you, btw.
    Bankruptcy filings are game changers, but it sounds like you have it straight. Best of luck to you, those who have deposits/engines in limbo, and the unemployed. Sucks.
    Last edited by redfoot; 05-07-2013 at 01:11 AM.

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