A couple weeks ago we heard Crane Cams would be shuttering after 56 years of operation. Crane Cams now claims it plans to reorganize under bankruptcy and restart operations this month.

According to Crane VP Steve Leva, the company is having the same financial troubles befouling the common automotive waters as any other supplier, but they're working to restructure and open as soon as possible. The management team is hoping to resume operations in as little as a week, but are targeting sometime this month. This is great news for the for grease monkeys everywhere, as the horror of stock V8 idle and terrifying valve float need not befoul your Saturday night special. Take that Carpocalypse. [AutoWeek]