31/07/2024
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As some of you might heard or seen in the news, Recaro Automotive Germany has filed for bankruptcy last July 29.
Long story short, Recaro Japan and Recaro USA are separate legal entities and are NOT AFFECTED by this. They continue to operate as usual and are not involved in the bankruptcy proceedings.
We import almost all of our products from Recaro Japan and will continue to do so. Supplies from Recaro Japan are also not affected. Only products from Recaro Germany that we import (just because Japan does not make them yet) are the Pole Position and Podium racing seats.
To better understand the situation, let me share a little bit of history. Up until 2012 if weโre not mistaken, Recaro GmbH used to own all the divisions of automotive, aircraft, & child seats business. They then sold the automotive division (company making car seats) to Johnson Controls (American company which was renamed Adient later on) while retaining the aircraft and child seats business.
Ever since, Recaro Automotive have 3 factories - Japan, Germany, and USA, which operate independently from each other. Recaro Automotive is now owned by Recaro USA, having purchased it from Adient a few years ago. Recaro Japan and USA have been helping Germany by providing financial assistance the past 3 years but still canโt prevent the bankruptcy from happening.
One thing to note is the Recaro Germany WILL NOT CLOSE and will continue to operate as usual. Insolvency proceeding is just a debt restructuring process, not a closure like most people think.
Hope this clears the confusion. If you have more questions about Recaro, just comment and weโll try to reply. Thank you.
