First Brands Group, LLC has received final approval from the U.S. Bankruptcy Court for the Southern District of Texas for all its “First Day” motions. This approval, following hearings on November 6 and 7, grants the automotive aftermarket supplier immediate access to its full $1.1 billion in debtor-in-possession (DIP) financing. The company previously received interim approval on October 1, 2025.
Highlights
- First Brands Group has secured final court approval for its “First Day” motions and full access to $1.1 billion in DIP financing.
- The funding is intended to maintain operations, bolster the inventory pipeline, and improve production and fill rates.
- The company has appointed a new leadership team, led by interim CEO Charles Moore, and transitioned out most pre-petition executives.
- First Brands is focused on stabilizing operations and developing a long-term business plan to market the company for new ownership.
Financing to Stabilize Operations
Access to the complete $1.1 billion DIP financing facility is crucial for First Brands. The capital is designated to ensure the company can maintain operations throughout its Chapter 11 process.
The funding will also support commitments to customers, employees, and partners.
“Today’s Court approval marks a critical milestone for First Brands,” said Charles Moore, interim Chief Executive Officer.
“With full access to $1.1 billion of DIP financing… we are well-positioned to continue to bolster our inventory pipeline and improve production and fill rates for customers,” Moore added.
Restructuring Progress and Leadership Changes
First Brands filed for chapter 11 voluntarily on September 28, 2025. Since then, the company reports significant progress in improving business performance and stabilizing its supply chain.
Key actions taken during the restructuring include:
- Appointing a new leadership team, led by Moore.
- Transitioning out substantially all pre-petition executives.
- Advancing the Special Committee’s investigation into pre-petition practices.
- Implementing new, rigorous financial controls and governance protocols.
Path to New Ownership
With the financing and motions approved, First Brands is proceeding with the next phase of its chapter 11 process.
The company’s focus remains on operational stability while developing a long-term business plan.
These efforts are intended to position First Brands to effectively market its business units. The goal is to secure a sustainable future under new ownership that recognizes the strength of the company’s brands, including Raybestos, Centric Parts, and StopTech.
Additional Information
Further details regarding the Chapter 11 process are available at https://restructuring.ra.kroll.com/firstbrands.
The company’s Claims Agent, Kroll, can be contacted at (877) 631-1151 (toll-free) or +1 (646) 290-7146 (international). Inquiries can also be emailed to [email protected].
Weil, Gotshal and Manges LLP serves as legal counsel, Lazard as investment banker, and Alvarez & Marsal as financial advisor to First Brands.
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