Why First Brands Has Sparked So Many Concerns on Wall Street
Wall Street has been shaken in recent weeks by the collapse of an auto-parts supplier that filed for bankruptcy with more than $10 billion in debt after questions arose about...
By Irene Garcia Perez, Eliza Ronalds-Hannon, Reshmi Basu · Bloomberg Markets
Wall Street has been shaken in recent weeks by the collapse of an auto-parts supplier that filed for bankruptcy with more than $10 billion in debt after questions arose about its borrowing and accounting practices. The unraveling of First Brands Group has ensnared major financial firms, including Jefferies Financial Group Inc., that had lending and other financial arrangements with the company.