Two thirds of the companies behind the most exclusive Miata currently offered–that being the MX-5 Club with the Brembo BBS Recaro package–just filed for bankruptcy.
As reported by Autocar and confirmed on its corporate website, Recaro Automotive GmbH filed for "insolvency" (aka bankruptcy) on July 30 and “approved for self-administration by the Esslingen District Court.”
In addition to the special edition …
I read that this morning.
The last time I saw a Recaro seat still in the box was at the Boeing plant in Charleston. They apparently make pilots seats as well as car seats.
In reply to Toyman! :
Actually, not only the pilot seats, most of the passenger seats are made by them as well.
Hey, I recognize that wheel! :D
Recaro automotive which was purchased by private equity is the one going bankrupt.
Who ever could have seen making a company borrow a ton of money to purchase itself then leasing all the stuff they got out of the deal back to them at bad terms would ever turn out poorly.
In reply to wearymicrobe :
Red Lobster could see it.
So is there going to be a clearance sale on these bad boys?
berkeleying private equity. Have the ever done anything beneficial for a company?
I saw earlier today that Fanatec's parent company has also declared bankruptcy.
I'm not sure I'd call the Brembo/BBS/Recaro package "exclusive" on the current Miata. "Expensive", maybe. But it's not limited by anything other than the buyer's wallet so not exclusive.
Recaro is a strong 80's brand to me. So now I'm looking at what it takes to put a set in the CRX :) Or maybe it already has some...
NickD said:berkeleying private equity. Have the ever done anything beneficial for a company?
Yes.
The large automotive parts manufacturing company where I worked for 25 years went from being a small/medium family owned manufacturer,supplying the big 3 and losing money to a large worldwide manufacturer supplying parts to almost everybody and making large money in the process. It was a great place to work (under the private equity company(s)), until it was purchased by a private manufacturer.
You probably only ever hear the bad stories associated with PE firms, and not the good ones.
nocones said:In reply to wearymicrobe :
Red Lobster could see it.
Toys R us....
j_tso said:So is there going to be a clearance sale on these bad boys?
That looks like an old school school BMW/VW seat, those in good condition are already $$$$$$
Peabody said:NickD said:berkeleying private equity. Have the ever done anything beneficial for a company?
Yes.
The large automotive parts manufacturing company where I worked for 25 years went from being a small/medium family owned manufacturer,supplying the big 3 and losing money to a large worldwide manufacturer supplying parts to almost everybody and making large money in the process. It was a great place to work (under the private equity company(s)), until it was purchased by a private manufacturer.
You probably only ever hear the bad stories associated with PE firms, and not the good ones.
Because bad to good is easily 10000:1. VC/PE is only out for one thing: make investor returns happen. At any cost. What was actually decent that now sucks? I would mention Hooters, bdubs, Holley, msd..... Items that used to last are now failing regularly, stagnant product offerings, declining overall performance....
z31maniac said:That looks like an old school school BMW/VW seat, those in good condition are already $$$$$$
Yep, they brought back the LS and LX a few years ago. Link
There must be some sort of premium for pepita pattern cloth or the foam because they're $1k more than their other similar models.
One thing, if I'm reading the link below correctly, this may be the fifth time BBS has declared bankruptcy since 2007, so it's kind of what they do, historically. https://uk.motor1.com/news/728530/recaro-bbs-file-insolvency/
From the link: "After 2007, 2010, 2020 and 2023, the long-established wheel rim manufacturer BBS has also filed for insolvency proceedings with the Rottweil district court."
I have actually read that the parent RECARO company is perfectly fine. The insolvent company is a smaller manufacturer in Germany that licenses the name. US and Japan are not affected.
I could, of course, be wrong.
Duke said:I have actually read that the parent RECARO company is perfectly fine. The insolvent company is a smaller manufacturer in Germany that licenses the name. US and Japan are not affected.
I could, of course, be wrong.
You're right. The bankrupt entity is Recaro Automotive Germany. It's a separate company from the airline seating company. Recaro Automotive US isn't in bankruptcy. It was purchased four years ago from Adient LLC, which is the company formed when Johnson Controls International sold off its Automotive Division. Recaro licenses its name to other companies for automotive seating and JCI had the license before I retired from there 16 years ago.
z31maniac said:j_tso said:So is there going to be a clearance sale on these bad boys?
That looks like an old school school BMW/VW seat, those in good condition are already $$$$$$
I've had this pair of LXCs for years. I still would like to find a car to use them in, along with a Momo steering wheel, and my Rota RBs....old school vibe from the 70s.
In reply to Keith Tanner :
I saw my first pair of Recaros (Ideal C) in a speed shop that used to be on Carling Avenue in Ottawa. That was in '71 or '72, and they were $2500 a set then ! I asked the guy who could afford them and he said he had sold a few sets to doctors at the Civic Hospital. For comparison, I went to university for two semesters for slightly less than that.
When I hear Recaro all I think of are the seats out of 80s Porsches
DeadSkunk (Warren) said:z31maniac said:j_tso said:So is there going to be a clearance sale on these bad boys?
That looks like an old school school BMW/VW seat, those in good condition are already $$$$$$
I've had this pair of LXCs for years. I still would like to find a car to use them in, along with a Momo steering wheel, and my Rota RBs....old school vibe from the 70s.
VW MK2 seems perfect, even though technically 80s.
DeadSkunk (Warren) said:z31maniac said:j_tso said:So is there going to be a clearance sale on these bad boys?
That looks like an old school school BMW/VW seat, those in good condition are already $$$$$$
I've had this pair of LXCs for years. I still would like to find a car to use them in, along with a Momo steering wheel, and my Rota RBs....old school vibe from the 70s.
VW MK2 seems perfect, even though technically 80s.
Side note: Can BBS start making RS centers again? Possibly ones with more brake clearance?
I would happily spend a stupid amount of money to build a set of 18" BBS RS for my BRZ.
In reply to Slippery :
Another fun fact, most lap belts in airplanes/helicopters/space capsules are made by Schroth!
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