2024-07-30 07:55:45
Car seat manufacturer Recaro in the German city of Kirchheim unter Teck has filed for bankruptcy. The district court in Esslingen ordered temporary self-administration on Monday and appointed Stuttgart lawyer Holger Blumle as temporary administrator. He should study the economic condition of Recaro Automotive and monitor the management.
Recaro is one of the most famous brands, both for the production of luxury car seats and gaming chairs. The company’s products serve to provide comfort on the bench of many European football clubs.
The labor organization IG Metall was surprised by the declaration of bankruptcy. “It is not clear what this means for the 215 employees of Recaro Automotive in Kirchheim,” commented the union.
For several years, employees helped keep the company economically stable by cutting wages. “We are disappointed and feel betrayed by management,” said workers’ council leader Frank Bokovits. “Our colleagues have made great sacrifices to support the company.”