Recaro Automotive in financial trouble
The German car seat manufacturer Recaro Automotive has entered an insolvency plea. Recaro is world famous for its racing seats.
Recaro Automotive is based in Kircheim unter Teck, near Stuttgart. The company produced car seats under licence from the Recaro Holding, that itself produces airplane and gaming seats under the Recaro brand. Recaro Automotive was a part of the US-based investment holding Raven Acquisitions, LLC, since 2020. The company employs 215 people.
Reutter Carosserie
Recaro, of course, has a long and rich history, the brand having become synonym for excellence in race car seats. Recaro was in fact the continuation of the original ‘Stuttgarter Carrosserie und Radfabrik’, founded by Wilhelm Reutter in 1903. By 1960, the firm had become become ‘Karosseriewerk Reutter’, based in the Stuttgart suburb of Zuffenhausen.
As the producer of the steel coachwork for the 356 models, Reutter was essential to help the sports car brand Porsche develop. In 1963, Reutter sold the coachwork division to Porsche and continued as a car seat producer; Reutter Carosserie or Recaro in short. The small bucket seat, giving the driver more enveloped body support, made Recaro famous, once again through Porsche.
Benchmark
Even today, Recaro sets the benchmark in racing seats, continuously developing to new safety standards. The insolvency plea shows Recaro Automotive is currently not capable of paying its bills, a situation that followed from the current decline in car sales. The court has appointed lawyer Holger Blümle as the temporary receiver, tasked with investigating the options for the beleaguered firm.
