Update—Recaro and BBS America have provided the following statements to Motor1:
Recaro Automotive GmbH, headquartered in Kirchheim unter Teck, has filed for insolvency with the Local Court of Esslingen. The company encountered significant financial difficulties due to extreme price increases in recent crisis years and the loss of a major contract. The effects of legacy products and business operations impacted the development of new product offerings during a regional reduction in vehicle purchase spend. On July 29, 2024, the court approved preliminary self-administration and appointed attorney Holger Blümle from the law firm Schultze & Braun as the preliminary custodian. The international consulting firm Baker Tilly is providing…
