One of the most well-known manufacturers of car seats for the global automotive industry has just filed for insolvency with the District Court of Esslingen in Germany.
“The company has faced significant financial difficulties due to extreme increases in raw material prices in recent years of crisis and the loss of a major contract,” emphasized Recaro in a statement.
The insolvency proceedings are limited to Recaro Automotive GmbH and do not affect the Recaro Group, which manufactures seats for the aviation industry, child seats, gaming chairs, and stadium seats.
Recaro, founded in 1963 for the production of car seats and racing seats for the automotive industry, succeeded Reutter Carosserie, a company that was established in 1906 to produce bodywork for Porsche and VW.
Over the years, Recaro has produced seats for a wide range of automotive brands, particularly for their sports models, usually as optional equipment.
Among the extensive list of clients, the German brand had Audi, Aston Martin, BMW (M models), Mercedes (AMG models), Cadillac, Ford, Mazda, Porsche, Renault, and more recently, Sony, as the Afeela prototype featured Recaro seats.
