BBS GMBH INSOLVENCYJuly 21, 2020
There have been many media reports about BBS GmbH filing for insolvency last week. Unfortunately, some of the reports have inaccurate information or misleading information.
As some of you already know, the BBS brand name is a shared brand between BBS Japan Co., Ltd., and BBS GmbH.
It is important to note that there is no direct impact of this action on BBS Japan Co., Ltd., and BBS Motorsport as they are not affected by the insolvency.
To minimize confusion, we have detailed a message below to explain and clear up some of the misinformation.
We want our customers and business partners to know that BBS of America is stable and will continue to move forward as normal.
The overall downturn of the European OE business had begun affecting BBS GmbH’s OE business and the temporary shutdown due to the Covid-19 pandemic created an even greater challenge for BBS GmbH. As a result, BBS GmbH has filed for insolvency. Prior to the pandemic, BBS had planned to restructure the size and scope of the business, shifting the business to service more aftermarket customers and reduce the dependence on the OE business.
Production of all BBS products will continue with no disruption to BBS aftermarket or OE customers.
It should be noted again that BBS Japan and BBS Motorsport are a separate company from BBS GmbH and are not involved in the Insolvency of BBS GmbH.
BBS of America will continue to operate as normal without any supply disruption.
BBS programs with NASCAR and Formula 1 for 2022 are not affected by this insolvency.
With Thomas Oberle and Marc-Philippe Hornung appointed as insolvency administrators, BBS GmbH has received two experts in insolvency and rehabilitation providing longstanding experience in the automotive branch. Thomas Oberle has already been appointed as insolvency administrator for BBS GmbH´s predecessor company BBS International GmbH in 2011.
We appreciate everyone’s continued support for our brand. Feel free to contact Craig Donnelly or Jesse Hemans if you have any questions at firstname.lastname@example.org.