First Brands news?

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NewKid

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So First brands went into bankruptcy last fall. I read an article today in WSJ (courtesy of MSN) that tells us that buyers of the company are backing out. Also, that the company has been propped up by automakers so FB could run their OEM production lines. They also said that there will be big layoffs.
I'm wondering if the company will be diced up because I'd say that the lion's share aren't OEM products. But I also can't see companies like Raybestos or Fram going unbought. I don't know if either of these product lines are considered OEM but there are a bunch of big names under their umbrella, nevertheless.
Thoughts/News?
https://www.msn.com/en-us/money/com...-interest-fades/ar-AA1WV7vY?ocid=BingNewsSerp
This link was to free article--WSJ website, not so much
 
I have been following this story since last December and it has not gotten any better. I hope somebody buys Autolite, Raybestos, Centric and Fram. I don't care about Cardone as they have never made a decent product so good riddence.

The other hit that is brewing is with LKQ. The guy who handles my LKQ account quit this week. He said they had a meeting where everyone was taking a pay cut effective immediately - so he left. LKQ has begun winding down some of their business as well and the have held off on junk car purchases at the moment so something is going on there as well! LKQ is for sale and they are winding down the keystone portion.
 
NewKid said:
So First brands went into bankruptcy last fall. I read an article today in WSJ (courtesy of MSN) that tells us that buyers of the company are backing out. Also, that the company has been propped up by automakers so FB could run their OEM production lines. They also said that there will be big layoffs.
Click to expand...
Champion Labs announced they are closing the whole place down, effective Feb 23rd. That's going to cause a lot of choas for the filters that Champ Lab makes at that location and for all the people who worked there.

https://www.14news.com/2026/02/23/champion-labs-closed-permanently-albion-ill/
 
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Brian123 said:
So, no more Fram Oil Filters?
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I'd say no more filters that where made at that manufacturing plant. Fram probably has some other manufacturing sites, but since First Brands is in such dire financial trouble, those could go down the tubes too.
 
First Brands is being wound down and are running out of cash to continue operating in bankruptcy - which was the reason the OEM's came up with some money to keep a few divisions running rather than shut the OEM's down.

Given their woeful position there is speculation they will switch to Chapter 7 - ie liquidation. In that case no consideration is given to operations at all - every asset is for sale to the highest bidder and how things get divided up is whatever the judge thinks generates the most cash. I envision all these aftermarket brands like Fram or Raybestos get bought by someone who then makes nothing but licenses the brand name out to whomever will pay. Purely my guess.

GMBoy said:
The other hit that is brewing is with LKQ. The guy who handles my LKQ account quit this week. He said they had a meeting where everyone was taking a pay cut effective immediately - so he left. LKQ has begun winding down some of their business as well and the have held off on junk car purchases at the moment so something is going on there as well! LKQ is for sale and they are winding down the keystone portion.
Click to expand...

LKQ is publicly traded and they just missed earnings - likely the reason for the paycuts, etc. Unfortunate as its very short sited. Taking a publicly traded company private is cumbersome and expensive and I can't see anyone buying them unless there also publicly traded because private credit is currently in a state of implosion. Google "Blue Owl Scott Bessent" if your unfamiliar.

All of this lays squarely at the feet of the government and federal reserve for their easy money policies too long after covid.
 
SC Maintenance said:
All of this lays squarely at the feet of the government and federal reserve for their easy money policies too long after covid.
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Plenty of private sector business actors to share the blame with them. Been going on too long of them wanting to privatize the profits but subsidize the losses and a correction is needed.
 
Hootbro said:
Plenty of private sector business actors to share the blame with them. Been going on too long of them wanting to privatize the profits but subsidize the losses and a correction is needed.
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For sure it’s ultimately on the investors themselves. However artificially low interest rates and massive liquidity naturally incentivizes the fraud and draws out the bad actors. In the end all the plebs pay, whether it be from loosing there job or a decline in the economy or whatever. The regulators are supposed to be the adults in the room not the ones encouraging the bad behavior.
 
ZeeOSix said:
Champion Labs announced they are closing the whole place down, effective Feb 23rd. That's going to cause a lot of choas for the filters that Champ Lab makes at that location and for all the people who worked there.

https://www.14news.com/2026/02/23/champion-labs-closed-permanently-albion-ill/
Click to expand...
Honestly, that does not surprise me. Afaik, CL has gone through at least a couple of private equity owners even before becoming affiliated with Rank Group, who ended up kicking them to the curb before selling off Fram to Trico/FB. In my observation once private equity gets involved, it's the beginning of the end. Iirc, private equity got involved because CL filed for bankruptcy protection. In short, it's been a downhill slide for CL for some time. Filter manufacturing is a tough competitive business with small margins. Really that CL has hung on this long, more surprising to me.
 
We need @kschachn to post HERE

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Thread 'First Brands (Fram) bankruptcy'

FYI: https://www.ttnews.com/articles/first-brands-bankruptcy
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Thread 'First Brands'

https://www.msn.com/en-us/money/new...1&cvid=6913799ba3d34926a9cf5b3c5f8b07af&ei=46
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Post in thread 'First Brand shutters Champion'

dogememe said:
Champion the spark plug company is owned by Tenneco, which is unrelated to the First Brands owned Champion Laboratories that makes oil filters.
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It's crazy how often people here (yes, even on BITOG) get those two mixed up.
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GMBoy said:
The other hit that is brewing is with LKQ. The guy who handles my LKQ account quit this week. He said they had a meeting where everyone was taking a pay cut effective immediately - so he left. LKQ has begun winding down some of their business as well and the have held off on junk car purchases at the moment so something is going on there as well! LKQ is for sale and they are winding down the keystone portion.
Click to expand...
insurance companies won’t be happy. Where will they get their Chinesium replacement parts from?
 
ZeeOSix said:
I'd say no more filters that where made at that manufacturing plant. Fram probably has some other manufacturing sites, but since First Brands is in such dire financial trouble, those could go down the tubes too.
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Fram has a facility in Perrysburg, OH I think?
 
Link works now, and 1000 employees have to restart their lives. They wont be going out consuming, domino effect. I don’t know, talk is cheap, don’t buy China or Vietnam and talk about how jobs are important to come back, but it’s a free country to do that. There still is a choice unlike other products where the choice is gone.
 
Fair enough said:
Link works now, and 1000 employees have to restart their lives. They wont be going out consuming, domino effect. I don’t know, talk is cheap, don’t buy China or Vietnam and talk about how jobs are important to come back, but it’s a free country to do that. There still is a choice unlike other products where the choice is gone.
Click to expand...
Worked in manufacturing for almost 30 years. You make a good US product and people will pay a premium.

You make slop and live off a brand name then don’t expect me to part with my money for it.

It’s pretty simple.
 
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