First Brands Bankruptcy Kills Three Major Auto Parts Companies
Autolite, Cardone, and Raybestos are the first casualties of the sprawling First Brands collapse.
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CK5
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End of Raybestos and Autolite?
- Thread starter wazzabie
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carbuzz.com
Thats crazy, I hope the brands survive, the article makes it seem like they will, losing those brands would suck.
Yep been coming for a while.
1st Brands group accounts for 40% of North American aftermarket parts, and 20% of direct to OEM.
Gonna put the hurt on thise trying to keep their s%^t box running.
All the extra parts in your garage just got more valuable.
I didn't know Cardone was under the 1st brands group.
1st Brands group accounts for 40% of North American aftermarket parts, and 20% of direct to OEM.
Gonna put the hurt on thise trying to keep their s%^t box running.
All the extra parts in your garage just got more valuable.
I didn't know Cardone was under the 1st brands group.
Buy spare parts now I guess. I like Cardone they make good stuff.
I just went through an auction listing for Lucas Oil. It looked like they might be having issues. Forest died in August, but I read nothing was changing. But it is
They are clearing out old equipment and semis and shop supplies to make room for and expanded lines of products.
They are clearing out old equipment and semis and shop supplies to make room for and expanded lines of products.
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Yep already having trouble getting some parts, bringing in different brands.
I heard it will hurt Napa brakes the most since they were made by Raybestos.
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Trico wipers, brakes but we have other brands.
It started when venture capitalists got their hands on it, somewhere in the mid 2010s.
It's what they do and have destroyed companies big and small.
They go in then take loans on the expected production, the loans go against the company not the venture capitalists but they have control over the money from the loans.
The loans never make it to the companies and just goes in the pockets of the VC.
Then the companies are left to pay the loans back and end up filing bankruptcy. It's sick and unfortunately the rules that would have prevented this kind of abuse have been removed around that time at the end of Obama's term
first brands had Trico, Anco, and Michelin.
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Yep. Sounds like fraud occurred and people will be charged.
Boy 70jimmy, I sure hope your right.
But I'm afraid it'll be 2 more weeks and they will release the list...
"insert tin foil emoji"
Someone watched money pit I see.Boy 70jimmy, I sure hope your right.
But I'm afraid it'll be 2 more weeks and they will release the list...
"insert tin foil emoji"
Two weeks
Not sure what money pit is.
Just watching the soap opera called life.
Wishing I could make a change, realizing I can only control myself.
I picked a bad life to quit drinking.
Money pit is an old comedy movie with Shelley long, and Tom hanks.
They buy an old mansion that needed repairs and the contractor keeps saying 2 weeks every time they asked when he will be done.
It did not take long. The Raybestos website is down.
When thru 4 boxes of napa premium rebuilt calipers and every one had pitting on the piston. I don't know who rebuilt them but they were trash. Next time I'm rebuilding them myself.
