German seat manufacturing expert Recaro Automotive GmbH is insolvent. It has filed for self-administration with a view of restructuring and “standing on solid ground again in a timely manner.”
While the majority of its business is supplying the automotive trade – new cars as an OE partner, the aftermarket and motorsport – it also has a range of sim racing equipment.
According to the Kirchheim unter Teck-headquartered outfit, it has struggled to be competitive in an environment with “extreme” price increases and the loss an of unnamed contract.
Recaro’s Pro SIM Star is a real-world car seat that has then been adapted for sim racing use, retailing for just under $1000. There is also the 24h Le Mans limited edition, with blue accents and the event’s logo, for around $1,300.
Earlier this year at the Consumer Electronics Show, it announced a partnership with SENSIT to produce what it called a FeelTech+ Pad. It uses 14 actuators within a sim racing seat’s padding to provide tactile feedback akin to those felt on a race track.
A preliminary self-administration has been approved by Esslingen court, with plans to continue production and order fulfilment during the restructuring process. According to the company, insolvency payments will “secure employees’ wages and salaries” but assurances for future employment post-restructuring remain absent.
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