‘Unsustainable’ Rate Hikes Bankrupt a 150-Year-Old Manufacturer

Stanadyne LLC, a maker of fuel pumps for engines, filed for bankruptcy after the pandemic hurt revenues and rising rates made its debt load unsustainable.

The North Carolina-based company filed for Chapter 11 bankruptcy in Delaware, court papers show. It listed assets and liabilities of as much as $500 million each. The Chapter 11 filing allows Stanadyne to keep operating while it works out a way to repay its debts.

Covid-19 lockdowns and their associated supply-chain problems led to big revenue drops for Stanadyne in recent years, Chief Executive Officer John Pinson said in a sworn court statement. Now, ...