Jefferies Scrambles as First Brands’ $10 Billion Bankruptcy Reveals $2.3 Billion in ‘Vanished’ Debt
First Brands’ Debt-Fueled Rise and Spectacular Fall First Brands Group’s journey from industry consolidator to bankruptcy cautionary tale was swift and dramatic. The company – a leading supplier of replacement auto parts like oil filters, brake pads and windshield wipers – grew aggressively through debt-financed acquisitions in the 2010s livemint.com. By 2025, it owned well-known aftermarket brands such as Raybestos (brake components), TRICO (wiper blades) and FRAM (engine filters), selling through major retailers like Walmart and AutoZone ts2.tech. However, this rapid expansion came at the cost of a towering debt load that far outpaced its earnings. Over the summer of
