Auto Supplier First Brands Files Chapter 11 Bankruptcy | JQJO

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.