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First Brands Group Holdings has filed for Chapter 11 bankruptcy protection following concerns from creditors about its opaque off-balance sheet financing. A group of creditors will provide $1.1 billion in financing to ensure operations continue. The move comes after the auto-supplier faced liquidity issues, as creditors were hesitant to offer new funds without court oversight. This bankruptcy filing impacts well-known brands like Anco, Trico, and Fram.

Prepared by Christopher Adams and reviewed by editorial team.