In recent news, renowned German sports seat manufacturer, Recaro, has filed for bankruptcy.
Recaro is known for producing performance seats for high-performance vehicles such as BMW M and Ford Mustang models. In addition, the company manufactures seats for trains, aircraft, and gaming.
However, a few years ago, the automotive seat division was separated from the Recaro Group and became part of the investment company, Raven Acquisitions. Currently, the bankruptcy filing only applies to Recaro Automotive (the automotive seat division). This means that the divisions producing seats for aircraft, office, gaming, and children are unaffected.
It is estimated that over 200 automotive division workers will lose their jobs as a result of the company’s bankruptcy. Prior to this, these employees had accepted no wage increases or bonuses in recent years to help keep the company afloat.
In fact, Recaro Automotive is not the only company to declare bankruptcy. Recently, wheel manufacturer BBS has faced a similar situation. The company has ceased operations and has been unable to pay employee salaries since May.
TH (Tuoitrethudo)
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