First Brands files for bankruptcy after weeks of lender scrutiny
First Brands Group has filed for chapter 11 bankruptcy, capping weeks of turmoil sparked by creditor concern over the auto parts supplier’s use of opaque off-balance sheet financing. The Cleveland-based company listed liabilities between $US10 billion and $US50 billion ($15 billion and $76 billion), and assets between $US1 billion and $US10 billion, according to its…

