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Hoonigan brand goes bankrupt

Inheritors of the late Ken Block’s tuning brand have failed to stay afloat in the competitive market.

Since October 2023, the Hoonigan badge belongs to Wheel Pros, a company specializing in wheels, suspension parts, lighting and other aftermarket products for cars. By going bankrupt, Wheel Pros hopes to write off debt in the amount of $1.2 billion and restructure its business.

Apparently, the cause of the insolvency was as trivial as mounting costs compounded by declining profits.

Editor:

 

September 11, 2024

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