Well-known car seat maker Recaro goes bankrupt

Recaro Automotive, the world's leading automotive seat manufacturer, filed for bankruptcy due to insolvency. Recaro Automotive has produced ergonomic and sporty seats for well-known automakers such as Aston Martin, BMW, Ford, Lamborghini, Mercedes-AMG and Volkswagen. Although the company did not respond to the reasons for the bankruptcy, insiders believe that the single business and dependence on a few customers may be key risk factors.