Just when it looked like the bankruptcies and bottoms-dropping-out of the car industry were behind us,
announces that it has applied for insolvency proceedings in its home country. Why? Because it failed to meet its plans to deliver its offbeat supercars to expected Chinese-market buyers.
Gumpert's insolvency isn't of the magnitude of, say, Saab, much less GM or Chrysler, of course. And it may not even be the end of Gumpert--there's a chance they can use the insolvency process to reorganize into a leaner form that will be able to bootstrap back into production of wild and funky supercars like the Apollo R and Apollo Enraged
The lawyer appointed to adminster Gumpert's insolvency process, Görge Scheid, says the company's chances of
recovery are good.
The official announcement contains little in the way of details, but does disclose that the first discussions with potential new investors will take place this week.