Apparently, the German wheel manufacturer filed for bankruptcy on December 30th, surprising even its employees and also corporate partner IG Metall, whose CEO told FAZ just before Christmas that he planned a multi-million dollar investment in the firm. The announcement was made by a court spokesman on Monday when Attorney Thomas Oberle was also appointed as a liquidator for the company.
The exact reasons for their decision was not announced, nor has the situation of the 436 employees working for BBS and IG Metall been clarified. This is not the first time that the company had financial troubles, since back in 2007 it also filed for bankruptcy and has been struggling ever since. What is sure is that the company had only announced last week it wanted to sell the production facilities at Herbolzheim, which employs about 150 workers, to the Swiss bike manufacturer Ronal AG. After the sale, BBS would reportedly withdraw from the mass market, which currently represents 65 percent of the company’s total sales.
The big question will be whether or not this means BBS is really gone. We can't imagine a company as well-known and respected as BBS could just disappear. More likely, they will survive due to the name they have created for themselves, but they will need the support of a big financial backer.
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