The classic manufacturer of cabins and car seats Recaro can no longer pay its bills and has filed for bankruptcy.
The cabin and car seat manufacturer Recaro Automotive, which was founded in Germany in 1906, is close to bankruptcy.
In any case, the company with headquarters in Germany has declared insolvent. The 118-year-old company has long suffered under conditions in an increasingly competitive industry that generally struggles to find profits.
This is written by Automobilwoche .
And now Recaro has declared itself insolvent at a court in Germany. This happens because the company cannot pay its bills.
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It is Stuttgart lawyer Holger Blümle who has been appointed as administrator of the company. But although the employees have tried to save the company by renouncing wage payments, the trade union IG Metall is not surprised by Recaro's declaration of insolvency.
It is also not certain that neither the company nor the 215 jobs in Stuttgart can be saved.
– We are disappointed and feel let down by the management. Our colleagues have made great sacrifices to support the company, says the head of the cooperation committee, which is the link between Recaro's management and the employees, Frank Bokowits according to Automobilwoche.
If Recaro Automotive goes bankrupt, the chair manufacturer will only be the latest in a long line of big names that have recently succumbed. The wheel company BBS is currently facing the 5th bankruptcy in its history. Read more about it here .
Also at the car brand Fisker Inc. are there problems. So far, the parent company has only been taken under bankruptcy protection. But several subsidiaries have already succumbed. Among other things in Sweden, where the company's bank account was empty just a few days before the bankruptcy.
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