Recaro, Famed Sports Seat Supplier, Has Reportedly Filed Bankruptcy

Recaro Automotive, a renowned German sports seat supplier, has filed for bankruptcy and been approved for self-administration by a German court. The impact on its future and operations, including its contracts with brands like BMW, Ford, and VW Group, remains uncertain. The company, which was acquired by U.S.-based Raven Acquisitions LLC in 2020, reported $150 million in revenue in 2019. Recaro's history of innovation in automotive seating dates back to 1906. The IG Metall trade union representing Recaro's workers demands transparency from management regarding the bankruptcy proceedings.

As a car enthusiast, I firmly believe the responsibility lies with the investment bankers rather than Recaro itself.