Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
As announced on 02 October 2024, the car seat manufacturer Recaro Automotive, based in Kirchheim unter Teck near Stuttgart, is now being permanently liquidated, and production will cease by the end of 2024. As a result, over 200 employees will lose their jobs.
The company filed for insolvency in July 2024. The loss of a major contract was cited as the reason. Although there have been discussions with an investor, the investor has shown no interest in maintaining production. Of the over 200 employees who will be made redundant, 135 have already been placed on conditional leave, while 90 are still working in production.
Eurofound (2024), Recaro Automotive, Bankruptcy in Germany, factsheet number 201699, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201699.