SECURITIESUNITED AND EXCHANGE COMMISSION Washington, D.C. 20549 STATES

FORMSECURITIES 8-K AND EXCHANGE COMMISSION

CURRENTWashington, REPORT PURSUANTDC TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 20549

October 10,FORM 2002 Date of report (Date of Earliest Event Reported) 8-K

HOLLEYCURRENT PERFORMANCE PRODUCTS INC. (Exact name of Registrant as specified in Its Charter) REPORT

DELAWAREPursuant (Stateto orSection other13 jurisdictionOR of incorporation15(d) 333-89061of (Commissionthe FileSecurities Number)Exchange 61-1291482Act (I.R.S.of Employer Identification No.)1934

~~1801~~Date ~~Russellville~~of ~~Road,~~Report ~~PO Box 10360, Bowling Green, KY 42102-7360~~ (~~Address~~Date of earliest ~~principal~~reported) ~~executive~~April ~~offices~~18, ~~and zip code)~~ 2003

(270) 782-2900 Registrant's telephone number, including area code

Holley Performance Products Inc. (Exact name of registrant as specified in charter)

Delaware	333-89061	61-1291482
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

1801 Russellville Road, Bowling Green, Kentucky		42101
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code 270-782-2900

(Former name ~~ITEM~~or 5.former ~~Other~~address, ~~Events.~~ if changed since last report)

~~Holley~~Item Performance Products Inc. (the "Company") entered into a loan and security agreement (the "Loan Agreement"), dated as of July 30, 2002, with Foothill Capital Corporation, as the arranger and administrative agent. A copy of the Loan Agreement was filed as Exhibit 10.1 to the Company's Form 8-K filed on August 9, 2002. The Company has also issued 121/4~~% senior notes due 2007 pursuant to an indenture (the "Indenture"), dated as of September 20, 1999, between the Company and State Street Bank and Trust Company, as trustee (the "Trustee")~~. AChanges ~~copy~~in ~~of the Indenture was filed as Exhibit 4.1 to the Company'~~Registrant’s ~~Form S-4~~Certifying ~~filed on October 14, 2000~~Accountant.

On ~~October 10,~~ ~~2002~~April 11, ~~after receiving the consent of the requisite majority of noteholders under the Indenture~~2003, the ~~Company~~Board ~~and the Trustee entered into a supplemental indenture to~~of ~~amend~~Directors ~~the covenants~~ of ~~the~~Holley ~~Indenture~~Performance toProducts ~~remove~~Inc. ~~the formula limit on indebtedness under the Company's credit facility~~ (~~including the Loan Agreement~~“Holley”), ~~and~~based ~~substitute a $45.0 million limit~~ on ~~such~~the ~~indebtedness.~~recommendation ~~Subsequently,~~of onits ~~October 11,~~Audit ~~2002~~Committee, ~~the~~dismissed ~~Company~~its ~~entered~~independent ~~into an amendment to the Loan Agreement to permit the Company to receive a cash infusion~~public accountants, asErnst ~~described~~& ~~below,~~Young ~~from~~LLP ~~its parent company~~(“Ernst”). ~~A copy of the supplemental indenture is filed as Exhibit 4.1 of this report and a copy of the amendment to the Loan Agreement is filed as Exhibit 10.1 of this report.~~

InDuring Holley’s two most recent ~~connection~~fiscal ~~with~~years ~~the~~ended ~~above~~December ~~amendments~~31, 2002 and 2001 and the ~~Company~~subsequent ~~received~~interim aperiod through ~~cash~~April ~~infusion~~11, of2003, ~~$15.0 million~~there ~~from~~were ~~its~~no ~~ultimate~~disagreements ~~parent,~~between anHolley ~~affiliate~~and ofErnst aon any ~~fund~~matter ~~managed~~of byaccounting ~~Kohlberg &~~principles ~~Co.~~or practices, financial statement ~~L.L.C.~~disclosure, ~~The~~or ~~additional~~auditing ~~investment~~scope ~~was~~or ~~initially~~procedure ~~received~~which, byif ~~KHPP~~not ~~Holdings, Inc.,~~resolved ~~the~~to ~~parent~~Ernst’s satisfaction, ofwould ~~the~~have ~~Company.~~caused ~~KHPP~~Ernst ~~Holdings~~to ~~then~~make ~~invested~~reference to the ~~$15.0 million~~matter inof the ~~Company,~~ ~~$7.5 million~~disagreement in ~~the~~connection ~~form~~with oftheir ~~senior~~reports; ~~unsecured~~and ~~debt~~there ofhave ~~the~~been ~~Company,~~no reportable ~~which~~events ~~will~~as ~~rank~~defined ~~pari~~in ~~passu~~Item ~~with~~304(a)(1)(v) ~~the~~of ~~notes~~Regulation S-K, ~~and~~except ~~$7.5 million~~ as ~~convertible~~follows: Holley ~~preferred~~began ~~stock~~implementation of a ~~the~~plan ~~Company.~~to ~~This~~strengthen ~~investment~~internal ~~provided~~controls ~~the~~during ~~Company~~2002, ~~with~~including ~~additional~~certain corrective ~~liquidity~~actions pursuant to ~~continue~~an ~~its~~ongoing ~~operational~~plan ~~restructuring~~to ~~and~~correct ~~fund~~weaknesses ~~the~~in ~~interest~~internal controls ~~payment~~that onwere ~~the~~noted ~~notes~~in ~~that~~management's ~~was due~~evaluation onof ~~September 15,~~controls during 2002. ~~The~~and that ~~interest~~were ~~payment~~noted ~~was~~by ~~paid~~Ernst onas ~~October 15,~~a ~~2002.~~part ~~After~~of ~~making~~their audits of the ~~interest~~December ~~payment~~31, ~~the~~2001 ~~Company~~and 2002 financial statements. The plan has been ~~more~~an ~~than~~ongoing ~~$8,000,000~~project ofthroughout ~~excess~~2002 ~~availability~~and ~~under~~continues ~~the Loan~~into ~~Agreement~~2003.

Ernst’s reports on the Company’s consolidated financial statements for each of the years ended December 31, 2002 ~~ITEM~~and 7.2001, ~~Exhibits~~ did not contain an adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope or accounting principles except such reports did contain an explanatory paragraph as to the uncertainty of Holley’s ability to continue as a going concern.

Exhibit		Description
4.1		Supplemental Indenture, dated October 10, 2002, between Holley Performance Products Inc. and State Street Bank and Trust Company.
4.2		Certificate of Designations, Preferences and Rights of Series A Convertible Preferred Stock of Holley Performance Products Inc.
10.1		First Amendment and Waiver to Loan and Security Agreement, dated October 11, 2002, among Holley Performance Products Inc., each of its subsidiaries signatory thereto, Foothill Capital Corporation, as the arranger and administrative agent, and the other lenders signatory thereto.
10.2		Holley Performance Products Inc., 10% Pay-in-Kind Convertible Promissory Note in favor of KHPP Holdings, Inc.

On April 14, 2003, Holley provided Ernst with a copy of the foregoing disclosure and requested that Ernst furnish it with a letter addressed to the Securities and Exchange Commission stating whether or not Ernst agreed with the foregoing disclosures. A copy of such letter is attached as Exhibit 16 to this Form 8-K.

2Item 7. Financial Statements, Pro Forma Financial Information and Exhibits

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Exhibit Number		Description

16		Copy of April 17, 2003 letter from Ernst & Young LLP

	HOLLEY PERFORMANCE PRODUCTS INC.
Date: October 15, 2002	By:	/s/ GARY CADEMARTORI
		Gary Cademartori Vice President, Chief Financial Officer and Secretary

SIGNATURES

3Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

QuickLinks

	HOLLEY PERFORMANCE PRODUCTS INC.
Date: April 18, 2003


	/s/ Thomas W. Tomlinson
	Thomas W. Tomlinson
	Chief Financial Officer

Filing Compare · HOLLEY PERFORMANCE PRODUCTS INC