Recaro Automotive Files For Bankruptcy After 60 Years Of Great Service
Well, it seems we will no longer get any new Recaro sports seats for our cars now
On 29 July 2024, Recaro Automotive, a prominent manufacturer of automotive seats with a legacy spanning six decades, filed for bankruptcy. This unexpected development has taken many by surprise, especially among the company’s employees, who were reportedly caught off guard by the news.
German media outlet Heise has reported that Recaro Automotive employs nearly 1,000 people, and the shock of the bankruptcy filing has been particularly acute among its workforce. Recaro’s origins date back to 1906 when it began as an automotive coachbuilder under the name Reuterr Carrosserie.
Moreover, the company initially focused on supplying car bodies to major automotive manufacturers like Porsche and Volkswagen. In the 1960s, Reuterr Carosserie transitioned its focus to automotive seating. In 1963, the company rebranded itself as Recaro, a name that would soon become synonymous with high-quality and safety-oriented car seats.
Over the years, Recaro established a reputation for producing seats renowned for their exceptional bolstering and safety features. The company’s seats have been integrated as standard equipment in a range of high-performance vehicles from prestigious brands such as Ford, Volkswagen, and Aston Martin.
In addition to its original equipment manufacturer (OEM) business, Recaro also caters to the aftermarket sector. The company offers FIA-approved racing seats designed for motorsport enthusiasts and provides classic options like black leather and Pepita fabric seats tailored for vintage Porsche 911s.
On top of that, the bankruptcy filing has stunned the workforce, particularly the 215 employees who are members of the IG Metall trade union at the company’s factory in Kirchheim unter Teck, near Stuttgart, Germany.
Alessandro Lieb, the head of IG Metall, expressed his dismay, stating that neither the employees nor the union were informed about the bankruptcy in advance. The news came as a surprise via the company’s intranet, which further exacerbated the sense of shock among the staff.
The filing, which took place at the Esslingen District Court, will enable Recaro’s operations to continue in the short term under the supervision of an appointed administrator. This administrator will be responsible for scrutinising the company’s financial status and evaluating its management practices to determine the best path forward.
It is important to note that this bankruptcy filing does not impact the separate Recaro Group, which remains unaffected. We got all this from Heise and their full article is linked here. Thank you Heise for the information and images.
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