First Brands Approaches Bankruptcy Settlement, Pursues Sales of Business Units
FLOW CONTROL
First Brands, an auto parts maker, is nearing a settlement with creditors while planning to sell four business lines. The company, which filed for bankruptcy on September 28 with over $9 billion in liabilities, has faced severe operational challenges due to allegations of fraud affecting its financial agreements. Major automakers Ford and General Motors are providing support through prepayments to fund ongoing operations.

Feb 28, 2026, 12:54 PM