First Brands Group, parent company of Jasper Rubber, has filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of Texas as part of a financial restructuring effort. The automotive parts supplier secured $1.1 billion in debtor-in-possession financing, with court approval to immediately access $500 million to maintain operations, pay employees, and continue serving customers and suppliers. Company officials said the move will help stabilize operations and ensure business continuity while the restructuring process moves forward. The focus remains on supporting employees, suppliers, and customers, according to Chief Restructuring Officer Chuck Moore, adding that the company’s global operations will continue without interruption.
