Troubled Auto-Parts Firm First Brands Goes Quiet as Loans Plunge

Creditors to First Brands Group are tallying paper losses in the billions of dollars and trying to assess the widening damage from unanswered questions swirling around the auto-parts supplier.

After watching in horror, and staying up all night in some cases, investors are taking steps to organize in the event of a restructuring, according to people with knowledge of the matter. Advisers meanwhile are holding talks over the weekend to assess the company’s needs, they added.

The urgent talks come after First Brands’ $6 billion debt pile lost nearly half of its face value in the space of just a ...