Auto Parts Supplier First Brands Group Files for Bankruptcy

Auto Parts Supplier First Brands Group Files for Bankruptcy

The supplier of some of the automotive industry’s most well-known aftermarket parts has filed for Chapter 11 bankruptcy protection in Houston. Privately held First Brands Group of Rochester, Michigan, on Sept. 29 filed for bankruptcy in the Southern District of Texas in order to stabilize its business operations and maximize ongoing value, the company said. First Brands Group’s bankruptcy filing comes on the heels of a wave of similar filings on…

First Brands Filed for Chapter 11 Amid $10B Debt - USA Herald

First Brands filed for Chapter 11 late Sunday night, staggering under the weight of more than $10 billion in debt. The Rochester Hills, Michigan-based auto parts maker, known for producing brakes, windshield wipers, spark plugs, and fuel pumps, announced it had secured a lifeline—$1.1 billion in financing from creditors—to keep its engines running during the bankruptcy process. The company compared the move to pulling an emergency brake on a run…

First Brands Group in Rochester Hills Initiates Voluntary U.S. Chapter 11

First Brands Group in Rochester Hills, a global supplier of aftermarket automotive parts including FRAM filtration products, has filed voluntary petitions for Chapter 11 relief. // Photo courtesy of FRAM First Brands Group, a global supplier of aftermarket automotive parts in Rochester Hills, today announced that the company and certain of its affiliates have filed voluntary petitions for Chapter 11 relief in the United States Bankruptcy Court f…

First Brands files U.S. chapter 11 - Aftermarket Matters

First Brands makes replacement components including filters, brakes and lighting systems for the automotive aftermarket.

First Brands Group’s bankruptcy marks second major filing in automotive so far this month

Showing there’s plenty of turbulence happening in multiple parts of the automotive industry, First Brands Group filed for Chapter 11 bankruptcy on Monday. The global supplier of aftermarket automotive parts filed in the U.S. Bankruptcy Court for the Southern District of Texas, saying the move was to stabilize its business operations and facilitate a value-maximizing transaction. To support business continuity, the company said an ad hoc group of…