Wiesmann files for bankruptcy

When we wrote about one of the last concepts from Wiesmann, the Spyder Concept, the first warning signs had already emerged from this small German brand. At the time, the concept was shown but its future was very much in doubt. Unfortunately, today we can confirm Wiesmann’s fears, as the company has filed for bankruptcy.

The bankruptcy petition was filed at a court in Münster, Germany, and the judge has accepted it, so Wiesmann will now be placed under the protection of the German courts, and an administrator has already been appointed. From now on, the long process of trying to settle Wiesmann’s debts will begin, with the company being sold to the highest bidder.

Wiesmann’s situation does not come as a surprise to anyone, considering the circumstances of recent years. With barely 28 years of existence and 25 years since the arrival of its first model, Wiesmann has been a brand devoted to special models, very much in the minority even in Germany, where one might think there is room for everyone under the sun. But reality has been very different, with only about 200 units a year sold.

One of the creditors that will surely be first in line will be BMW. The German company supplied many parts to Wiesmann, given that its models were based on engines and transmissions bought from the Munich-based firm. In the coming months, we will see whether Wiesmann can rise again with new investors or whether it will disappear for good.

Source: Autoevolution