BBS Wheels Files for Bankruptcy

German wheel-maker BBS has filed for bankruptcy in a German court, according to a statement on its website.

“This was a necessary step to prevent imminent insolvency within the coming months due to the sudden omission of confirmed payments. This financial hardship hits us hard during the year of our 50th anniversary,” the statement says. “Being traceable to the currently tough market environment in the automotive branch, BBS’ situation deteriorated further due to the Corona-lockdown, which led to a temporary shutdown of the production at both BBS plants.”

However, the company did say it will continue production and will continue to supply all OE and aftermarket customers.

BBS Japan and BBS Motorsport are separate companies and will not be impacted. BBS America will continue to operate as normal without disruption, according to a statement sent to customers.

Read the full statement here.