AMERICAS DISTRESS DAILY: First Brands Mulls Potential Bankruptcy

First Brands Group, the auto-parts maker facing a growing wave of doubts about its finances and earnings statements, is discussing options with its creditors for restructuring its $6 billion debt load that include a possible Chapter 11 bankruptcy filing.

• The company’s advisers are sounding out lenders for new financing, which could be structured as a so-called debtor-in-possession loan to fund continuing operations if it begins the Chapter 11 process, said the people, who asked not to be named citing private negotiations.

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