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Recaro, a German brand name best recognized for providing seats to sports car suppliers and competing groups, has actually declared personal bankruptcy.
The firm proclaimed personal bankruptcy in a German court on July 29, 2024, and authorities designated a Stuttgart-based attorney called Holger Blümle to manage the procedure. Keep in mind that not every firm called Recaro is insolvent; it’s simply Recaro Automotive Seats, that makes child seat. Recaro Holding, which makes and produces aircraft seats and video gaming chairs, is not associated with the personal bankruptcy procedure.
Recaro’s vehicle seat-making department has actually jumped from proprietor to proprietor over the previous couple of years. It was bought by Johnson Controls in 2011, according to The Drive, and offered to a Detroit-based personal investment company called Raven Procurements in January 2020. The declaration released to introduce the sale declared that Recaro Automotive produced concerning $150 million in incomes throughout the 2019 .
