According to news from The Drive, long-standing automotive seat manufacturer RECARO has filed for bankruptcy in Germany. The 100-year-old seat manufacturer also builds seats for gaming and aircraft applications.
The automotive division of RECARO has changed hands frequently over the past decade. In 2020, the manufacturer was sold to Raven Acquisitions LLC, a private equity firm in Detroit.
German automotive site Auto Bild reports that many of the company’s 215 employees had waived their pay over multiple years to help stabilize the brand.
RECARO has produced seats for many OEM applications and countless aftermarket vehicles since its pivot to seating in 1963.
As news surrounding the announcement continues to develop, read the full report from The Drive here.
