bankrupt

Auto-parts supplier First Brands and subprime auto lender Tricolor both went bankrupt in September, and plenty of questions remain about how lenders didn’t pick up on the potential for losses earlier.

Auto-parts supplier First Brands and subprime auto lender Tricolor both went bankrupt in September, and plenty of questions remain about how lenders didn’t pick up on the potential for losses earlier.

Patrick James, the chief executive officer of bankrupt auto-parts supplier First Brands, has resigned his position after accounting irregularities came to light.

Hillingdon Council says it is at risk of going effectively bankrupt and has put in a request for exceptional financial support from the government.

The company later went bankrupt, and turbine makers were left with excess capacity.