While few people knew of First Brands Group before it filed for bankruptcy, nearly everyone will be familiar with some of the brands they own. Folks that turn wrenches on cars, be it professionally or at home on the weekends, likely understand the consequences if some of these companies go out of business. It’s an ongoing story, and the latest installment per Reuters is that Patrick James, First Brands Group founder and CEO, has stepped down. This follows last week’s news that the US Justice Department had launched a probe into First Brands’ dealings with creditors amid this current Chapter 11 bankruptcy process.
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