" The Motorsports Aftermarket Group, known as MAG, a conglomerate of multiple brands, retail and distribution channels within the motorsport industry, has filed for Chapter 11 in the District of Delaware as it looks to clear itself from some substantial debt.
As part of process, MAG is eliminating $300 million of debt through a “debt-equity” swap, which basically means MAG will exchange company equity (stock) for the debt that MAG owes its financial lenders
In regards to Chapter 11, court papers show 19 MAG brands have filed for debt relief, including MAG itself:
Velocity Holding Company, Inc.
Velocity Pooling Vehicle, LLC
DFR Acquisition Corp.
Ed Tucker Distributor, Inc.
J&P Cycles, LLC
Kuryakyn Holdings, LLC
MAG Creative Group, LLC
MAGNET Force, LLC
Motorcycle Superstore, Inc.
Motorcycle USA LLC
Motorsport Aftermarket Group, Inc.
Mustang Motorcycle Products, LLC
Performance Machine, LLC (owns Roland Sands Design)
Ralco Holdings, Inc.
Rally Holdings, LLC
Renthal America, Inc.
Tucker Rocky Corporation (owns Firstgear brand)
Tucker-Rocky Georgia, LLC
V&H Performance, LLC (Vance & Hines)"