BBS declaring bankruptcy! :(

[MikesJo]

Someone will end up buying them.

[92 mtechnic cabrio]

that's what they get for designing ugly ass wheels lately



wtf mate

honsetly, in my book, there are only like three or four really REALLY hot BBS wheels.

[CleanAzzE30z]

that's what they get for designing ugly ass wheels lately



wtf mate

honsetly, in my book, there are only like three or four really REALLY hot BBS wheels.

thats one wheel. The rest are great. CH's, LM's, RS II's, RS-GT's, The new hollow rim they came out with, etc. My opinion.

Mariano

[ivo316]

Guys keep in mind that european law is different than american law, when a company declares bankrupcy over there, what actually happens is that they "stop all payments".

Under the bankrupcy framework, the "bankrupcy office" evaluates the company, and gives them adviosry on how to solve the problems, then the banks are forced to give them "soft" loans to bail them out, I don't know about germany, but in spain, the banks will pay the invoices to suppliers of the company and addthose to the long term loan, then the banks appoint a manager for the company and they run it until the company is healthy again, only then control is returned to the owners.

Of course if in the evaluation the company is classified as "non profitable", all it's assets are sold and it's closed down.:(

[nkell09]

IVO316, you beat me to it. I agree with you completely! I'll wait to cast a judgement on their demise. I've always understood the european legal system to be much more controlling and authoritative in such matters.
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BBS is not operating under U.S. jurisdiction. I am familiar enough to know that the German bankruptcy law does differ from ours. From the article translation it does appear that they are restructuring.

I am unfamiliar with the German legal system, maybe someone from overseas can elaborate. An article I pulled comparing european bankrupcty plans briefly mentioned that Germany "favors reorganization but allows just three months for a plan to be submitted and requires creditor approval by majority vote before the plan can be implemented".

http://www.tuck.dartmouth.edu/today/2006fall/department_faculty_opinion.html

[Bill 84 318i]

Wow, that's interesting.

I've always wondered how much of their profits come from aftermarket sales, and how much come from corporate contracts (i.e.- I know they make STi wheels, they've made wheels for Saab, BMW, etc.).

[Jand3rson]

Honest opinion? Just because they are filling for bankruptcy does not mean they will close, look at major airlines.

[nkell09]

Honest opinion? Just because they are filling for bankruptcy does not mean they will close, look at major airlines.

I don't think the major airlines compare to BBS which operates in Germany, under German law.

Here's a major automotive mirror company that moved to the UK after going bankrupt in Germany.
http://www.telegraph.co.uk/money/mai.../cnschef08.xml

[YAN-3]

NOOOOOOOOOO i just sold a set of RSs

[Tree18is]

NOICE! "shit-tastic"

Yeah someone like American racing could buy the name and manufacture their shit-tastic wheels under the bbs name.

I lol'd

[CleanAzzE30z]

Honest opinion? Just because they are filling for bankruptcy does not mean they will close, look at major airlines.

Major airlines continue to get bailed out by our government.

Mariano