According to information from the “Stuttgarter Nachrichten” and “Stuttgarter Zeitung”, the traditional car seat manufacturer Recaro Automotive will be wound up and production will be closed permanently. This was announced by a spokesman for the insolvency administrator in Kirchheim/Teck (Esslingen district). There are discussions with an investor. But he has no interest in maintaining production. The production of seats is therefore unlikely to continue. “I don’t expect that seats will be produced here next year,” said works council chairman Frank Bokowits, according to information from “Teckbote”.
The company is now in normal insolvency proceedings due to insolvency. It had previously tried to reorganize itself under self-management. Just over 200 employees are affected by the settlement. 135 of them have already been revocably released and 90 are still employed in production. According to the spokesman for the insolvency administration, all employees will lose their jobs.
“We are disappointed and feel let down by management,” said works council leader Bokowits after the initiation of insolvency proceedings in the summer. “Our colleagues have made great sacrifices to support the company.” Over several years, the workforce has helped to keep the company economically stable by waiving and deferring salaries.
Recaro has been producing car seats for sports cars for decades and filed for bankruptcy a few months ago. The reason given was the loss of a major order, meaning that the company no longer had a major customer from the automotive industry. Most recently, Recaro Automotive GmbH, which was spun off from Recardo Holding in 2011, had sales of almost 50 million euros.