The S54 engine in the BMW E46 M3 early on had a reputation of being made out of glass due to bearing failures. People said stock motors could not hold together let alone forced induction examples. This was quickly dispelled as the motor more and more often showed incredible gains with forced induction. HPF themselves pushed the motor to over 700 wheel on stock internals. Recently, people have been doing in the high 6XX wheel range on stock internals as if it no sweat.
Basically, HPF helped pioneer the turbo market for the E46 M3. There are new options coming just now (over a decade after the car hit the market) which goes to show just how difficult it is to do this. HPF had options to turbo the E46 M3 when nobody else had options to turbo the E46 M3. They were the main game in town and deserve respect for it. But... even the mighty can fall and a single platform can not sustain anyone forever.
Unfortunately an employee stole from HPF something over $200k (who knows what the real amount truly is and just how much he got away with) and unfortunately Chris made a poor choice with his new insurance company who only covered $25k in theft. The insurance company and HPF went to court and HPF lost. BimmerBoost is somewhat surprised a quarter million can sink a ship of this size but clearly there were other issues at play.
Whether one wants to put the blame on the owner Chris or not it's hard to say what frivolous spending might have gone on. Chris did reach a high point in the BMW tuning market in the USA and nobody can take that away from him. Numerous magazine spreads, hundreds of turbo kits sold, and a household name on BMW forums. That deserves respect and is a level few can or will reach.
Sustaining that is another thing entirely though. Busty young women don't come cheap. Dedicated drag cars for forum boasting aren't cheap. There is a reason rockstars tend to burn out fast. Is that what happened here? In retrospect it's easy to say this and that should have been done instead but Chris also did get somewhat of a second chance with a forum member investing cash into the company recently.
Unfortunately, it seems that amount was not enough and now the doors are closed and people are laid off. What will happen to current orders? Members on this site are waiting for their parts. What will happen to the cars still there? Some have been removed, some remain. What will happen to Chris Bergermann? Is this it? Not going to be easy to climb back up after already being at the top of a platform for quite some time with little capital to work with and he certainly isn't getting younger.
I for one want to thank HPF for their support. Chris was always kind to me, always supportive, and always wished me well. He always wanted me to succeed and I wasn't even a customer of his. To him I was just some random kid building a forum. I did an interview with Chris back in 2010: http://www.germanboost.com/content.php?426-BimmerBoost-Interview-with-Chris-Bergermann-Owner-of-Horsepower-Freaks
I suggest any interested party take a look or listen to it (audio is posted). It shows how far HPF came in just 9 years at the time of the interview.
I wish you well Chris, I wish all your employees well, and I hope you move on positively. It's a rough and cuthroat business. When you are on top, people just want to tear you down. It's easy for people to talk down sitting comfortably behind their monitor without realizing how many peoples lives this affects. Hopefully there is a learning lesson here that makes everyone stronger and hopefully nobody is going to bed hungry at night as a result of this. You'll land on your feet Chris. Good luck and thank you, from BimmerBoost.