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US auto parts manufacturer First Brands files for bankruptcy protection
2 day ago /
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Author：小编
US auto parts manufacturer First Brands filed for bankruptcy protection on Monday, citing a series of acquisitions that left it heavily indebted and financially strained. Currently, the company has secured $1.1 billion in debtor-in-possession financing from its first-lien lenders to support its business operations, and expects its global operations to continue uninterrupted under Chapter 11 bankruptcy proceedings. First Brands primarily manufactures replacement parts for the automotive aftermarket and became a significant player in the field by acquiring competitors through debt financing. It owns well-known brands such as raybetis, TRICO, and FRAM.
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