The coachbuilder is now seeking bankruptcy protection, which would allow it to continue its operations while insolvent. If granted, all creditors would have stop trying to collect payments during the restructuring, reports Automotive News.
Bertone’s production lines are currently sitting idle. The latest contract the coachbuilder had was a 2,000-unit run of a limited-edition version of the Mini back in mid-2006.
The plant has the capacity to build up to 70,000 units a year and to break even Bertone would need to build at least 30,000 units annually.