First Brands Requests Access to $250 Million in Customer Receipts

Bankrupt auto-parts seller First Brands has requested access to $250 million of customer receipts as it seeks to improve its liquidity and restructure in chapter 11.

The company, which filed for bankruptcy protection in September, said Friday it filed a request for expedited relief to get access to money that is either being held by customers or is segregated in connection with the chapter 11 process.