The sale process is intended to accelerate the transition to new ownership and the company’s emergence from chapter 11 cases.
Posts tagged as “chapter 11”
The company stated its distribution and manufacturing centers are operational and shipping customer orders as it navigates chapter 11.
Craig Barnes, Michael Broderick, and Tim Turvey will assist in advancing the company’s delivery performance, operational improvement and growth initiatives.
Financing will ensure the company has capital necessary to maintain operations and meet its commitments to customers, employees and partners.
First Brands' chapter 11 filing could be reflective of further things to come that may cause pain for a range of market participants.
The company filed for bankruptcy protection on Monday after disclosing liabilities of more than $10 billion; obtains financing to continue operations.
The EV manufacturer of the Ocean SUV had brought the vehicle twice as fast as expected but has experienced various market and macroeconomic headwinds.
