> First Brands didn’t have the kind of money necessary to buy so many companies in such a short order, so it turned to financing.
So can we say that this collapse is a fallout from the easy money availability at the height of COVID? What was leadership thinking going on a such a buying spree though?
> If you thought all of that was bad, things got worse, as First Brands then sued its founder, Patrick James, alleging that he had pilfered at least $700 million from the company’s coffers.
......oh.
FT, Oct2025: The secretive First Brands founder, his $12bn debt and the future of private credit ( https://archive.is/jxn99 )
Guess I won't be putting a StopTech big brake kit on my Supra someday...
> First Brands didn’t have the kind of money necessary to buy so many companies in such a short order, so it turned to financing.
So can we say that this collapse is a fallout from the easy money availability at the height of COVID? What was leadership thinking going on a such a buying spree though?
> If you thought all of that was bad, things got worse, as First Brands then sued its founder, Patrick James, alleging that he had pilfered at least $700 million from the company’s coffers.
......oh.
FT, Oct2025: The secretive First Brands founder, his $12bn debt and the future of private credit ( https://archive.is/jxn99 )
Guess I won't be putting a StopTech big brake kit on my Supra someday...