Longtime manufacturer of sports car seats, Recaro has filed for bankruptcy. The Esslingen District Court ordered temporary self-administration and appointed Stuttgart lawyer Holger Blumle as temporary administrator.
He must examine the economic condition of Recaro Automotive GmbH and supervise the management. IG Metall was surprised by the bankruptcy filing. “It is not clear what this means now for the 215 employees of Recaro Automotive GmbH in Kirchheim”, the union said.
For several years, the company has been struggling and trying to maintain the economic stability of the company through wage cuts and layoffs. “We are disappointed and feel abandoned by management,” said workers council president Frank Bokowitz. “Our colleagues made great sacrifices to support the company.
IG Metall requires a transparent dialogue with management and the administrator. “We expect all options to secure jobs and find a sustainable solution to be exhausted,” said Esslingen IG Metall boss Alessandro Lieb. A meeting with employee representatives is planned in the coming days to discuss further steps.
The bank is providing the necessary financial assistance to facilitate the process of checking the economic status of Recaro Automotive GmbH, according to the court's instructions to the temporary administrator.
"Given the significant contribution of the workforce to maintaining the financial stability of the company, it is extremely important for the Bank to consider their welfare when making financial decisions related to Recaro Automotive GmbH," the bank said.< /p>