[RahulNagaraj]

According to a report, popular aftermarket wheel manufacturer, BBS Wheels, has filed for insolvency at a local court in Germany.

The wheel manufacturer is the second famous car component manufacturer to go bust after seat maker 'Recaro', which also announced bankruptcy recently. However, this isn't the first time BBS Wheels has become insolvent, it's the fifth. The company had previously announced that it had become insolvent back in 2007, 2010, 2020, and 2023.



ISH Management Services, which acquired BBS Automotive GmBH prior to the filing, stated, "We will never let down the people who have walked this path with us. We will never give up on the BBS brand, which for us is one of the biggest German global brands. We have a plan and we are determined to implement it."

Having said that, the news did come as a surprise to some of BBS's overseas operations. While BBS Automotive GmBH filed for insolvency in Germany, its American operations isn't going anywhere, as it is under a different ownership. Craig Donnelly, President, BBS America, stated, "We are independent of that whole situation. But it’s a bad situation for everyone overall, because we don’t know what’s going to happen at this point."

BBS Japan also mentioned that it has no equity relationship with BBS Germany. They also clarified that BBS Motorsports - a German-based racing wheel manufacturer, is a 100% subsidiary of BBS Japan, and a completely separate company from BBS Germany. Also, BBS Japan owns the 'BBS' trademark for forged wheels, hence the BBS Germany going bankrupt poses "little" impact.

Source: Paultan

Link to Team-BHP news