HARD TIMES
Two iconic brands with products in millions of cars facing uncertain future – with hundreds of staff left unpaid
One also has an exclusive contract with F1
A PAIR of iconic companies whose products are found in millions of cars are facing an uncertain future, with hundreds of staff unpaid and administration rumours swirling.
The brands supply some of the world's largest manufacturers, including Ford, Audi and Vauxhall.
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Reports have emerged in the German media that a district court in the country has ordered Recaro into self-administration.
The firm makes bespoke car seats, particularly for sports cars as well as aircraft.
Recaro seats are available in some of the most popular models across the UK, including the Ford Fiesta ST and Audi R8.
It is also famous for creating the bucket seat, which has become a standard feature in high-performance motors.
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The company's workforce of 215 staff was reportedly not told of the decision, according to .
However, the aircraft and gaming divisions of the business are understood to be unaffected.
Elsewhere, wheel manufacturer BBS has declared itself insolvent for the fifth time, with the last coming in September last year according to .
The brand supplies wheels to carmakers including Audi, Bentley, Mercedes and VW.
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It is also the exclusive wheel supplier for F1 cars in an agreement that has been in place since 2022.
Reports suggest that 270 BBS workers in Germany have been left unpaid.
Major car dealership files for bankruptcy and abruptly closes all its locations laying off hundreds of workers
The company itself has been placed into administration.
The two firms' financial struggles have been blamed in part on the rise of cheap knock-off alternative products available online.
It comes after a used car dealership loved by thousands of Brits collapsed amid a £7 million debt.
Meanwhile, drivers and rail passenger were plunged into chaos as a major motorway is set to close for an entire weekend, with a five-mile diversion in place.
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