Failed auto parts company to shut down parts of business [Yahoo! Finance]
General Motors Company (GM)
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Source: Yahoo! Finance
Reuters reports that First Brands Group LLC — the manufacturer behind products for brands such as Philips, Michelin and Autolite — announced it would begin shutting down several of its locations on Monday. This includes its Brake Parts, Cardone and Autolite units. According to Crain's Cleveland Business , First Brands filed for Chapter 11 bankruptcy protection in late September, borrowing over $1 billion to keep the rest of its business operations running through the end of this month. Significant debt — roughly $12 billion — and troubled finances were cited as some of the reasons behind this motion. Additionally, last year, a U.S. bankruptcy judge ordered a $7 million independent investigation into the company regarding accusations it misused third-party financing for customer invoices, Reuters states. The Financial Times reports that both Ford and General Motors (GM) came into negotiations with First Brands Group over a potential financing package. This deal purportedly invol
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- 1/27/26 - Beat
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Sec Filings
- 1/27/26 - Form 10-K
- 1/27/26 - Form 8-K
- 1/8/26 - Form 8-K
- GM's page on the SEC website