Two of the most desired car component makers going bust at the same time? Yes, aside from the shocking news that seat maker Recaro has filed for bankruptcy, famous wheel manufacturer BBS has also filed for insolvency proceedings at the Rottweil local court in Germany. The company had reportedly stopped paying salaries since May.
BBS’ financial troubles are perhaps less surprising. Industry watchers would have seen this before as BBS became insolvent in 2007, 2010, 2020 and 2023. Yes, this is the fifth time!
“We will never let down the people who have walked this path with us. We will never give up on the BBS brand, which for us is one of the biggest German global brands. We have a plan and we are determined to implement it,” said ISH Management Services, which acquired BBS Automotive GmbH prior to this recent filing, reported by Motor1.com.
The news comes as a surprise to BBS’ overseas operations, which are independant. BBS America president Craig Donnelly told Motor1 that the news came as a surprise but assured that US operations is under different ownership and isn’t going anywhere.
“We are independent of that whole situation. But it’s a bad situation for everyone overall, because we don’t know what’s going to happen at this point,” he said.
We found a statement by BBS Japan from the previous round of bankruptcy, and it said that there’s no equity relationship between BBS Automotive GmbH (Germany) and BBS Japan. BBS Germany manufactures casting wheels while BBS Japan manufactures and sells forged wheels. It does not import or sell casting wheels from Germany.
BBS Japan also clarified that BBS Motorsports, a German-based manufacturer of racing wheels, is a 100% owned subsidiary by BBS Japan and is a separate company from BBS Automotive GmbH. BBS Japan owns the BBS brand trademark for forged wheels and the impact of the bankruptcy of BBS Automotive GmbH is considered ‘little’.
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Nothing surprising about it. after all, BBS = Becoming Bankrupt Soon.
Blame PMX for not allowing EPF acc 1 withdrawal. Otherwise their sales would have rocketed.
Thanks for connecting the dots from far far away.
amendee
If you need EPF withdrawal, you cannot afford BBS.
Can get free rims?
Anybody aware the level of bureaucracy of opening and operating businesses in Germany? I suggest we find out, then maybe can shed some light why they go bankrupt.
Mind you Recaro & BBS are no cap ayam brand, product reputation & quality + Made In Germany, seems quite odd to go bankrupt.
These products cater mainly to rich Ah Bengs who will modify their cars with Recaro seats & protruding BBS sport rims with undersize tyres. Times have changed & you see less of these type modifications…especially ppl switching to EVs & driving SUVs which doesn’t fit with such modifications….
there used to be a time when people were so into Rims, i guess that has diminished with escalating prices and also inspired like designs from iconic designs at a cheaper price.
Is this B40 brand or T20 brand? I M40 dont know.