BBS Kraftfahrzeugtechnik, one of the world’s best known manufacturers of aftermarket car wheels, has declared itself insolvent in Germany for the third time since 2007, citing exceedingly poor sales figures in the past months.
The Covid-19 aftermath will undoubtedly hold the automotive industry worldwide in a near-crisis state for a while longer, but some vendors can take less punishment than others. BBS is waiting for a district court in Germany to review its insolvency claim right now; the debt amount is being kept secret.
Financial market analysts believe that the company may not simply disappear from the market, but it may end up having to restructure and possibly re-brand. Right now, BBS Kraftfahrzeugtechnik has around 1,200 employees.