For the time being, it’s difficult to tell what the future holds for the company. IG Metall, the union representing 215 of Recaro’s employees, says it’s not clear what the filing means for them or the company. Aside from the union, Recaro employs close to 1,000 people. Reports indicate the employees were caught off-guard by the bankruptcy filing, but this might not mean the immediate end of Recaro.
Operations within the company can continue to go on as long as it’s under the eye of an administrator. The company was approved for self-administration as a result of the filing, and an administrator will oversee Recaro’s financials and management as of right now. The Recaro brand covers other areas such as gaming chairs and aircraft seating, but only the automotive section has been impacted as a result of this bankruptcy filing.
If the company ultimately ceases operations, it would be a big blow to the luxury seating sector. For example, the Ford Mustang Dark Horse gives buyers the option of going for Recaro seating, and they come standard on higher-end options like the Ford Mustang GTD. On top of that, Ford gives you the ability to buy Recaro seats a la carte, an option that would disappear with no immediate successor if the company goes under. If it does end up being the end, those Recaro seats you have might end up being worth a pretty penny in the future.
Is Recaro Going Out Of Business? Here’s What We Know
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