Reports indicate the U.S. Bankruptcy Court Judge Christopher Lopez on Friday, April 10th signed an order approving the sale of First Brand Group's intellectual property related to the wipers, filters, plugs, and lift products to Premium Guard Inc. (PGI) for $25 million.
As part of the sale, PGI will assume certain liabilities and pay a portion of net sales over time that is valued at around $20 million.
First Brands filed for bankruptcy in September of 2025 and in January of 2026, the former Chief Executive Officer (CEO) and other company executives were indicted for fraud related to the company's indebtedness. Facing a liquidity crisis, the company began shutting down its production facilities across the country and laid off more than 3,500 employees. One of those was the Champion Labs plant located in Albion in Edwards County in southeastern Illinois where over 1,000 employees lost their jobs.
With the sale acceptance, it is not known what exactly will be done with the Albion location or others.
Indiana Gov. Braun declares state of disaster emergency for 63 Indiana counties
Gov. Braun unveils Indiana’s exhibit for the National Mall during The Great American State Fair
Indiana State Fair announces final wave of Hoosier Lottery Free Stage concerts for 2026
Nominations now open for farmers and ranchers to serve on USDA Farm Service Agency county committees
Kokomo storm clean-up continues
Cincinnati Children’s and Parkview Health finalize to enhance pediatric care for families in northern Indiana
CBP officers in Indianapolis seize counterfeit FIFA World Cup 2026 merchandise
