First Brands: Bankruptcy Fears and High-Stakes Debt

Auto-parts supplier First Brands Group faces potential bankruptcy as Goldman Sachs analysts raise alarms about its $6 billion debt and risky financing tactics like factoring. With interest rates exceeding 30% and complex off-balance sheet arrangements obscuring its financial health, First Brands' loans are plummeting, leaving creditors bracing for massive losses. The company is reportedly working with creditors to address the debt, but with neither First Brands nor Goldman Sachs commenting, uncertainty looms over the future of the company and who will bear the brunt of its financial woes. Hosted on Acast. See acast.com/privacy for more information.