Auto Parts Supplier First Brands Group Files for Bankruptcy

The company listed debts totaling between $10 billion and $50 billion in its filing.

Published: 9/29/2025, 4:13:29 PM EDT

Auto Parts Supplier First Brands Group Files for Bankruptcy — Arrow points to the U.S. District Bankruptcy Court for the Southern District of New York in Manhattan, on Jan. 9, 2020. (Brendan McDermid/Reuters)

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.

In its filing, First Brands Group listed debts totaling between $10 billion and $50 billion, with assets ranging from $1 billion to $10 billion.

This summer, the company sought to refinance its existing debt structure prior to $4.8 billion in loans maturing in 2027, which would have provided First Brands Group with increased liquidity through a fixed-rate first-lien term loan and second, larger, loan, credit ratings agency Fitch Ratings reported in July.

Those restructuring plans would have kicked the majority of the company’s loan maturation obligations down the road until 2030, but it was unsuccessful and subsequently paused its restructuring plans, Fitch said.

First Brands Group’s balance sheet listed $4.9 billion of first-lien loans in June, as well as an additional $987 million in second-lien and other debt. However, the company was also highly leveraged from extensive off-balance sheet borrowing from its various special purpose entities that took out loans to raise money for First Brands Group, Fitch noted.

Fitch Ratings twice downgraded First Brands Group, and on Sept. 29 it withdrew its ratings entirely in light of the group’s lack of publicly announced plans to restructure its massive debt load, Fitch added.

First Brands Group said it had secured $1.1 billion in debtor-in-possession financing from first lien lenders that will allow it to continue operations, pay employees, and fulfill customer orders. The company sells many of the leading brands in the automotive industry, including Autolite spark plugs, Trico and Anco windshield wipers, Fram air filters, and Raybestos brake parts.

“Today’s actions mark an important step toward stabilizing First Brands’ operations and securing a long-term future for the company’s world-class portfolio of aftermarket automotive part brands,” said Chuck Moore, chief restructuring officer of First Brands.

“With committed funding from our key financial partners, we remain focused on supporting our employees, working with our valued suppliers, and delivering best-in-class aftermarket automotive technology for our customers globally.”

Operations are expected to continue without interruption to customers and vendors, First Brands Group said. The company petitioned to have the multiple bankruptcy filings administered jointly.

First Brands Group also filed numerous first-day motions that enable it to fulfill commitments to various vendors and partners following the Sept. 29 bankruptcy filing.

The law firm Weil, Gotshal & Manges is First Brands Group’s legal counsel, Lazard is its investment bank, and Alvarez & Marsal is serving as financial adviser during the bankruptcy proceedings.

From The Epoch Times