Recaro, renowned supplier of sports seats, files for bankruptcy

Bankruptcy filing was made in the name of Recaro. Photo: Instagram Reproduction @recaroautomotive

Recaro Automotive, a renowned supplier of sports seats, has filed for bankruptcy, as reported by Autocar.

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The German company, known for supplying seats to brands such as BMW, Ford, and the VW Group, has been authorized to proceed with self-administration, but the future impact of this decision remains uncertain.

The bankruptcy came as a surprise to Recaro employees, and the IG Metall union, which represents workers at the company’s factory in Kircheim unter Teck, Germany, demanded transparency from management.

In 2020, Recaro announced the sale of its business to Raven Acquisitions LLC, an investment corporation from Detroit, USA, and reported revenue of approximately $150 million in 2019. However, it is unclear what financial decisions led to the current insolvency situation.

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