German sports car manufacturer Wiesmann has reportedly filed for bankruptcy.
German media reports the filing was made this week in the Munster District Court in Germany, though the company’s financial details have not been revealed.
Wiesmann unveiled its latest creation, the GT MF4-CS, at the Geneva Motor Show earlier this year. The car was developed to celebrate the marque’s 25th anniversary, with only 25 units to be built.
Founded in 1985 in Dulmen, Germany, by brothers Martin and Friedheim Wiesmann, the company originally started making hardtops for convertibles.
The small-scale manufacturer launched its first vehicle in 1993, a futuristic retro sports car that used an engine and transmission supplied by BMW, features common to all subsequent Wiesmann models.
It’s not known if the company is faced with the threat of liquidation or just a reorganisation. The Wiesmann brothers reportedly left the company last year, and things have obviously gone downhill since.