BBS = filing for bankruptcy??
02-06-07, 10:04 PM
#1
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Posts: n/a
BBS = filing for bankruptcy??
http://www.auto-motor-und-spor...5.hbs (in german)
(babelfish translation)
Update +++ the autosupplier BBS automotive technology AG in scold oh (circle Rottweil), one of the prominent manufacturers of light alloy wheels, placed insolvency request. As reason for the inability to pay the enterprise gave on Tuesday (6,2.) the way breaking of a bank on.
A catching solution failed. The technology leader with high-quality light alloy wheels had still briefly before communicated the change at the point of the supervisory board. The former minister of economics of Baden-Wuerttemberg Walter Doering should replace Hans-Peter Hirner (71).
BBS had communicated in August 2006 that the enterprise had to accept a result depression because of aluminum prices snapped the strongly up. The additional tax result sagged in the first half-year on minus 3.8 million euro. For the whole year 2006 BBS had expected a conversion of 200 million euro. The conversion of the yearly 2005 was with 189.8 million euro. BBS employs approximately 1,200 humans in the company.
Serious liquidity difficulties
"although to the time of the filing of an application still promising negotiations were led to the re-establishment of the solvency of the enterprise, were the reason for the filing of an application that the society was come into serious liquidity difficulties and the end of the request period stood, was called after Paragraf 92 of the law on limited companies before the expiration" it in the report of BBS.
A solution for the re-establishment of the solvency appeared last, which should be carried by the big customers of the enterprise. The promise of the big customers to make the necessary liquidity available by larger Vorfaelligkeitszahlungen it was also given. The conversion of the concept failed however at the night to Tuesday because of the resistance of one of the banks involved, although the society granted for the purpose of the continuation of the financing collateral to the financing banks. A catching solution under excluding the bank concerned did not come therefore no more to conditions.
(babelfish translation)
Update +++ the autosupplier BBS automotive technology AG in scold oh (circle Rottweil), one of the prominent manufacturers of light alloy wheels, placed insolvency request. As reason for the inability to pay the enterprise gave on Tuesday (6,2.) the way breaking of a bank on.
A catching solution failed. The technology leader with high-quality light alloy wheels had still briefly before communicated the change at the point of the supervisory board. The former minister of economics of Baden-Wuerttemberg Walter Doering should replace Hans-Peter Hirner (71).
BBS had communicated in August 2006 that the enterprise had to accept a result depression because of aluminum prices snapped the strongly up. The additional tax result sagged in the first half-year on minus 3.8 million euro. For the whole year 2006 BBS had expected a conversion of 200 million euro. The conversion of the yearly 2005 was with 189.8 million euro. BBS employs approximately 1,200 humans in the company.
Serious liquidity difficulties
"although to the time of the filing of an application still promising negotiations were led to the re-establishment of the solvency of the enterprise, were the reason for the filing of an application that the society was come into serious liquidity difficulties and the end of the request period stood, was called after Paragraf 92 of the law on limited companies before the expiration" it in the report of BBS.
A solution for the re-establishment of the solvency appeared last, which should be carried by the big customers of the enterprise. The promise of the big customers to make the necessary liquidity available by larger Vorfaelligkeitszahlungen it was also given. The conversion of the concept failed however at the night to Tuesday because of the resistance of one of the banks involved, although the society granted for the purpose of the continuation of the financing collateral to the financing banks. A catching solution under excluding the bank concerned did not come therefore no more to conditions.
02-06-07, 11:31 PM
#6
I thought they supplied motorcorps with many OE wheels and also major dealings with JGTC and other divisions of racing. They have one of the best reputations in the wheel industry...this is so hard to believe...
edit: on second thought, I'm not that suprised with all the knock off rims going around. SSR goes, then BBS, then what? Rays Engineering? How many reputable companies and original designs have to fall before all of this knock off crap stops? sigh...
edit: on second thought, I'm not that suprised with all the knock off rims going around. SSR goes, then BBS, then what? Rays Engineering? How many reputable companies and original designs have to fall before all of this knock off crap stops? sigh...
Last edited by G Star; 02-06-07 at 11:45 PM.
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02-07-07, 10:34 AM
#10
I am sorry but nothing funny about the statement. At least for the car enthusiast.
That is why I have always been a vocal person about authentic brand. You see all those excuses about "can't justified a set of wheels" or something else. To me, if you can't afford it don't even bother to make yourself look like you are rocking a set of expensive wheels by going knock off. Yes, one of the reason for the hardship is the rising aluminum cost. However, w/o knock off market I think the company would be much better of. Its sad to see all these great manufacturers to go down like that. I can go on and on for days on this but I will leave it here.
That is why I have always been a vocal person about authentic brand. You see all those excuses about "can't justified a set of wheels" or something else. To me, if you can't afford it don't even bother to make yourself look like you are rocking a set of expensive wheels by going knock off. Yes, one of the reason for the hardship is the rising aluminum cost. However, w/o knock off market I think the company would be much better of. Its sad to see all these great manufacturers to go down like that. I can go on and on for days on this but I will leave it here.
02-07-07, 10:58 AM
#12
Forum Administrator
iTrader: (2)
Right, but the question is will they maintain their quality standards if the 'other company' has less rigour.
Kind of like Ford buying Jaguar... wait - bad example
02-07-07, 11:31 AM
#15
Super Moderator
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