Automotive icons Recaro and BBS file for bankruptcy

AutoExec Summary
German automotive companies Recaro and BBS have both declared bankruptcy in the same week, highlighting the challenging times faced by well-known suppliers. Recaro, known for its body-hugging sports seats supplied to car manufacturers like Ford, Porsche, and BMW, cited financial difficulties and loss of a major contract. Despite the bankruptcy filing, Recaro will continue producing automotive seats. BBS, a prominent wheel supplier for Formula One and new car manufacturers, also entered administration after failing to pay staff. Both companies have struggled due to competition from cheaper replica brands in the aftermarket scene.

Brands mentioned: Ford, Porsche, BMW, Ferrari.