First Brands Warns Cash to Run Out by Jan. 31, Force Asset Sales

First Brands Group Inc. warned it will run out of cash by the end of January without an immediate financing injection, a shortfall that could force the bankrupt auto-parts maker to shut down some businesses and sell other operations.

The company is in talks with existing lenders to secure enough funding to continue operating and cover bankruptcy costs, attorney Sunny Singh told a federal judge Wednesday during a hearing in the company’s multibillion-dollar Chapter 11 case.

First Brands has about $190 million in cash and is reviewing a term sheet for a new loan, Singh said, adding that details still ...