All articles tagged with #first brands group
The article discusses First Brands Group's financial difficulties, highlighting concerns over cash flow and the company's need for financial support, as reported by the Financial Times.
First Brands Group, owner of brands like Fram and Raybestos, has filed for Chapter 11 bankruptcy, which could reduce the availability and increase the cost of aftermarket auto parts, though the company continues to operate and supply parts not directly to automakers. The bankruptcy stems from financial struggles exacerbated by global economic factors and tariffs, highlighting potential disruptions in auto parts supply chains.
Apollo Global Management found a way to short First Brands' debt despite being on a blacklist, using complex arrangements that avoided owning the loans directly. This maneuver was part of a broader decline in First Brands' financial stability, which is expected to file for bankruptcy after its debt value plummeted over half in two weeks due to failed refinancing and financial concerns.