First Brands (Fram) bankruptcy

[Alien]

FYI: https://www.ttnews.com/articles/first-brands-bankruptcy

 

[edyvw]

FYI: https://www.ttnews.com/articles/first-brands-bankruptcy

Shocking, absolutely shocking. Especially after reading: company grew through debt-driven purchases of various brands " (something along those lines).

 

[dogememe]

I knew some of their brands but wow, they own some huge companies (or for some of these, I think make licensed products, like Michelin wiper blades?)

https://firstbrandsgroup.com/our-brands

 

[Zee09]

First to last brands.....

 

[Zee09]

I knew some of their brands but wow, they own some huge companies.

https://firstbrandsgroup.com/our-brands

Looks like a buyer of

 

[Trav]

It looks like they could cut at least 50% of their brands.

 

[Zee09]

Now we know why they ruined Fram.

 

[SC Maintenance]

Not too surprising - I had occasionally looked up their credit rating - there only rated by Fitch which is not particularly great at this - but they did derate them back in July. However 6 months ago they were listed as "stable". Not a credit expert - maybe "stable" is like "hold" on a stock - which means sell all today

Private equity starting to crack. Good.

 

[cptbarkey]

I think I heard about this plot before in the oil filter soap opera timeline.

 

[SC Maintenance]

Now we know why they ruined Fram.

I am cheering for bankruptcy / liquidation - then maybe the original Fram owners can buy them back?

 

[mrsilv04]

Now we know why they ruined Fram.

Isn't that pretty much the way it goes.... remove what made the product a quality product while charging the same price (or more), and then sell the garbage product until the brand name is ruined.

 

[GW.]

Explains the piss poor QC….

 

[Blagoje]

I am cheering for bankruptcy / liquidation - then maybe the original Fram owners can buy them back?

MAKE
FRAM
ULTRAS
WIRE
BACKED
AGAIN

 

[cptbarkey]

So, my next natural question is:
Does anyone have a rough timeline on when to avoid Fram oil filters?
I'm very familiar with wavy ruffled flashlight tests.
2020-2025 manufacturer dates?

 

[Hall]

I am cheering for bankruptcy / liquidation - then maybe the original Fram owners can buy them back?

Slim chance of that.... They sold a decade and a half ago and are millionaires many, many times over.

 

[edyvw]

I knew some of their brands but wow, they own some huge companies (or for some of these, I think make licensed products, like Michelin wiper blades?)

https://firstbrandsgroup.com/our-brands

That explains why I only owned one set of Michelin wiper blades in the last 20 years, and some 10 sets of their tires.

 

[fantastic]

A lot of folks knew where this was headed but I didn't think they'd be bankrupt so quickly. They did ruin the filter lineup by not decreasing cost on decreasing quality. I'd imagine now that Walmart has changed up their filter offerings on the shelves for lower cost products put some pressure on them. Also, the push in the USA for the quality Vietnam/China filters that are consistently better. Most of which can also be had at the auto chains now there's little reason to think these things weren't going to add up. The previous owners probably saw this coming too (imports). Well, does anyone think the quality of their filters will improve in the coming years or is this the end of Fram after huge success in previous years?

 

[Snagglefoot]

Shocking, absolutely shocking. Especially after reading: company grew through debt-driven purchases of various brands " (something along those lines).

Yes, “debt funded acquisitions”.

 

[Snagglefoot]

Fram itself is a very powerful brand name. Someone might buy that chunk.

 

[Hootbro]

FRAM IP is worth some big money.