2020 was supposed to be a year of celebration for BBS, with the German wheel manufacturer celebrating its 50th anniversary. Instead, BBS Kraftfahrzeugtechnik finds itself filing for insolvency.
In a press release (translated by Google), the company blamed the “sudden omission of confirmed payments,” adding that the “situation deteriorated further due to the Corona-lockdown which led to a temporary shutdown of the production at both BBS plants”.
Thomas Oberle and Marc-Philippe Hornung have been appointed as insolvency administrators. Both men are said to be experienced in this field, with Oberle having served as insolvency administrator for the company’s previous guise BBS International GmbH in 2011. That followed financial trouble for the firm back in 2007, making this latest development the third time BBS has gone bust.
Production is ongoing despite the latest financial woes for BBS, with the company pledging that wheel supply will be maintained. Even before this development, BBS said it had “already initiated an extensive turnaround strategy”.
BBS was founded in 1970, and named after its founders - Baumgartner, Brand, Schiltach. After initially manufacturing body panels, a three-piece wheel developed in 1972 changed the company’s course. Today, BBS remains one of the most recognisable names in the aftermarket wheel world while continuing to supply OEM rims to a huge variety of manufacturers.
The company concluded in its press release, “Times of change lie ahead but together we will release the energy and strength which will be needed to preserve the legendary BBS brand and secure its future.”