First Brands Demise Has Lending Firm Raistone Seeking Rescue
Autolite spark plugs, owned by First Brands, at an auto parts store in Memphis, Tennessee.
Photographer: Houston Cofield/BloombergThe trade finance platform Raistone is looking to sell itself after the collapse of its biggest client, auto-parts supplier First Brands Group.
Raistone said it is “evaluating strategic alternatives” due to the “liquidity strain” it has faced since the demise of First Brands, according to an investor presentation reviewed by Bloomberg.