Wheel Maker BBS Files For Bankruptcy Again
German manufacturer BBS, which is widely known for producing ultra-stylish, high-quality wheels for both OEMs and aftermarket retailers, has just filed for bankruptcy. This is the third time in the last 13 years.
According to Motor Illustrated, the 50-year-old company—owned by South Korea’s NICE Holdings Co. since 2015—submitted its latest filing on July 16, citing increasingly low demand and a tough environment in the industry resulting from the coronavirus pandemic.
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Like all automakers, BBS has had to suspend production for several weeks and has also run into supply problems.
The idea now with the bankruptcy filing is to buy some time while BBS restructures its business and the owner looks to sell the assets to another group.
BBS currently employs approximately 1,200 people, many of whom are based in the U.S. Earlier this year, it began supplying centre-locking wheels to NASCAR.
What will happen with all those production cars that are available with BBS wheels? Time will tell. Some examples include the Subaru WRX STi and Mazda MX-5 as well as the new 2021 Lexus IS and Honda Civic Type R Limited Edition.