The supplier of some of the automotive industry’s most well-known aftermarket parts has filed for Chapter 11 bankruptcy protection in Houston.
Privately held First Brands Group of Rochester, Michigan, on Sept. 29 filed for bankruptcy in the Southern District of Texas in order to stabilize its business operations and maximize ongoing value, the company said.
First Brands Group’s bankruptcy filing comes on the heels of a wave of similar filings on Sept. 24 from a host of affiliated companies that operate as special-purpose entities. Patrick James, president and CEO of First Brands Group, is listed as the head of multiple business units that also filed for bankruptcy protection….