IEH Auto Parts is in a confirmed liquidation posture after its June 2023 plan process, with the court having confirmed the debtors’ third amended combined disclosure statement and joint liquidation plan through the confirmation orderDkt. 749. The case began as a fast-track Chapter 11 for the Auto Plus aftermarket-parts business, but the filed path ultimately resolved through liquidation rather than a standalone operating reorganization.
The debtors filed on January 31, 2023, after a deterioration in liquidity and operating performance that management attributed to an oversized retail footprint, inefficient inventory management, weakened demand, supply-chain disruption, inflation, and COVID-era effects. At filing, Auto Plus operated 304 stores across 26 states and 21 distribution centers, employed roughly 3,500 people, and served installer and jobber customers through a broad automotive-parts catalog, but it was carrying substantial funded debt, capital lease obligations, and trade debt while holding only limited cash. The Neyrey first day declarationDkt. 24 framed the filing around preserving operations long enough to pursue a going-concern sale, supported by proposed DIP financing from the prepetition secured lender and sale milestones requiring a sale motion within 10 days, bidding-procedures approval within 45 days, and consummation within 120 days.
The capital structure and claims profile left the estate oriented toward creditor recoveries rather than balance-sheet repair. The same first day declarationDkt. 24 described prepetition secured debt under facilities ultimately held by American Entertainment Properties Corp., secured by first-priority liens on broad personal-property collateral, while the claims register reflected a large secured claim base and material unsecured claims. By mid-June 2023, the debtors had advanced from the first-day sale-oriented case thesis to a Chapter 11 liquidation framework, filing the and obtaining confirmation the same day through the .