First Brands: why a maker of spark plugs and wiper blades has Wall Street worried
Opaque off-balance-sheet financing at First Brands triggered a multi-billion-dollar collapse and bankruptcy, revealing massive undisclosed liabilities and market contagion risk.
'Mega bankruptcies' are the highest they've been since the pandemic began, up 33% since last year alone | Fortune
Corporate bankruptcies surged in late 2024–early 2025, with 117 filings over $100 million assets—a 44% rise and mega bankruptcies at pandemic-era highs.