First Brands Lenders Weigh Scrapping Firm After a Cleveland Trip
As restructuring advisory firms in Manhattan tallied their fees from untangling the First Brands wreckage, some of its creditors decided they’d seen enough. Wary of sinking more cash into the...
By Eliza Ronalds-Hannon, Reshmi Basu, Soma Biswas, Irene Garcia Perez · Bloomberg Markets
As restructuring advisory firms in Manhattan tallied their fees from untangling the First Brands wreckage, some of its creditors decided they’d seen enough. Wary of sinking more cash into the bankrupt firm, they sought reams of new information and flew to its Cleveland offices to see for themselves what was worth salvaging.