F1 wheel supplier files for bankruptcy

[stevo qld]

German automotive brands Recaro and BBS have both filed for bankruptcy in the same week, showing times are tough even for well-known suppliers.

Recaro has filed for insolvency with the Local Court of Esslingen, following "significant financial difficulties due to extreme price increases in recent crisis years and the loss of a major contract".

BBS – the only wheel supplier for Formula One and another producer for new car manufacturers – also entered administration in Germany this week, with Motor1 reporting the firm filed for insolvency with the Rottweil Local Court.

Sorry, I lost that quote, but heres another. Google has a long list of similar stories.

https://www.autoexpress.co.uk/news/363925/recaro-folds-and-wheels-come-bbs-financial-trouble-strikes