Showing there’s plenty of turbulence happening in multiple parts of the automotive industry, First Brands Group filed for Chapter 11 bankruptcy on Monday.

The global supplier of aftermarket automotive parts filed in the U.S. Bankruptcy Court for the Southern District of Texas, saying the move was to stabilize its business operations and facilitate a value-maximizing transaction.

To support business continuity, the company said an ad hoc group of cross-holders has agreed to provide First Brands with $1.1 billion in debtor-in-possession (DIP) financing that will be fully backstopped by certain members of the ad hoc group.

Management said this financing will provide the necessary capital for the company to maintain operations, fulfill customer orders, and meet its commitments to its vendors and partners from the start of the Chapter 11 filing.

It’s the second major bankruptcy in automotive to surface this month, as Tricolor Holdings filed for Chapter 7 bankruptcy on Sept. 10, creating a ripple throughout the subprime auto finance space.

First Brands said its global operations are expected to continue without interruption during Chapter 11 bankruptcy, with full continuity for the company’s international customers, partners, and employees.

“Today’s actions mark an important step toward stabilizing First Brands’ operations and securing a long-term future for the company’s world-class portfolio of aftermarket automotive part brands,” First Brands chief restructuring officer Chuck Moore said in a news release.

“With committed funding from our key financial partners, we remain focused on supporting our employees, working with our valued suppliers, and delivering best-in-class aftermarket automotive technology for our customers globally. We are confident in the strength of First Brands’ industry-leading portfolio and the essential role we play in the automotive supply chain,” Moore continued.