First Brands is an automotive company you've probably never heard of.

But you've almost certainly relied on some of the things it makes.

And many of them are products that are probably in vehicles that you've written in.

So there's the Fram filters, there's Trico windshield wipers, there's spark plugs, all sorts of

stuff like this.

That's our colleague Alexander Gladstone.

He says that First Brands, this once obscure company, has been getting a lot of attention

lately because late last month, First Brands filed for bankruptcy.

American Auto Parts Maker First Brands filing for Chapter 11 bankruptcy protection.

And as forensic accountants piece through the tangled wreckage, they discovered that the

company contained a lot of surprises.

So when they filed, it was kind of like, whoa, this is a hot mess, to be honest with you.

They have found over $11 billion, almost $12 billion of debt.

And so, you know, there's a lot of people who could potentially lose a lot of money.

What stands out about this bankruptcy is its scale, the extensive allegations of fraud or inappropriate

activity, and the enormous amount of money that the company owes to people.

People are definitely worried. I think a lot of folks are worried about it.

It's the latest and biggest business scandal to hit Wall Street,

and so I think that it's very concerning a lot of people.

Welcome to The Journal, our show about money, business, and power.

I'm Ryan Canoeson.

It's Monday, October 27th.

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