Employees were reportedly unaware of the move, which comes four years after firm was sold to private investors
Car seat manufacturer Recaro Automotive has filed for bankruptcy. The German firm, which supplies major brands including BMW, Ford and Volkswagen, was yesterday approved for self-administration by the Esslingen District Court. Local reports suggest that employees had not been informed that it would be filing for bankruptcy.
Recaro Holding licences its branding to Recaro Child Safety, a property of Avova GmbH, and Recaro Automotive. Recaro is one of the best-known and most prolific suppliers to the automotive industry, having been active since the early 20th century. The company was established as coachbuilder Stuttgarter Carosserie- u. Radfabrik in 1906, and produced bodies for various Porsches and Volkswagens until the early 1960s.
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