Sports seat manufacturer Recaro announced bankruptcy yesterday, July 29, 2024. Auto123 has the details.
Big news in the industry today: German brand Recaro, renowned for its seats for sports cars and racing teams, has filed for bankruptcy protection.
That car seat division passed from one owner to another in recent years. As reported by The Drive, it was purchased by Johnson Controls in 2011, then sold to a Detroit-based private equity firm, Raven Acquisitions, in January 2020. The statement issued to announce that sale claimed that Recaro Automotive had generated around $150 million in revenues in fiscal 2019.
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