First Brands Mulls Restructuring Options Including 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.

Representatives for First Brands did not respond to requests for comment. The plans are not final and ...