Local Auto Parts Supply May Face Disruption After Bankruptcy News

When was the last time you had to buy parts for your car? There are some car owners out there that are pretty good mechanics. Back in the day it was very rare that my dad had to take a car to a shop to get it worked on, he did almost everything on the car at home, and I'm not talking just about oil changes.  

The best friend of any at home auto mechanic is a good parts store, and we have some good auto parts stores here in the Wenatchee Valley. Napa auto parts, Jerry's auto supply, AutoZone, O'Reilly auto parts. 

But here's a question for you. 

Who is it that supplies the auto parts, to the auto parts store that supplies you? It's a company you've probably never heard of, Carnaby Capital Holdings LLC. Carnaby First Brands Group. (or FBG) is a worldwide company that supplies auto parts to retailers around the world. Brand names like Raybestos, complete brake solutions, Michelin licensed wiper blades, Autolite spark plugs, Fram filtration products,  StopTech performance brakes, and many more automotive products.  

The problem is Carnaby is in trouble. 

According to msn.com,
‘Carnaby Capital Holdings, LLC filed for Chapter 11 bankruptcy protection in Southern District of Texas on September 25 listing $500,000,001-$1 billion in assets and $1 billion-$10 billion in liabilities, according to court filings.
A number of related filings were reported as well, this includes multiple filings under various iterations of the Carnaby name.’ 

So FBG, First Brands Group is trying to secure what they call a “debtor in possession loan” of about $1.25 billion. Securing this loan would help them stay afloat while they struggle through the Chapter 11 bankruptcy process.  

In the short term, you might find it a little more difficult to get that part that you need from a brand that you prefer at your favorite auto parts store.
US auto parts supplier files Chapter 11 bankruptcy; 'billions in debt'
Case number: 9:25-bk-90391 - Carnaby Inventory Holdings III, LLC - Texas Southern Bankruptcy Court