It looks like it isn’t the end of the road for niche German sports car manufacturer Wiesmann just yet. After declaring itself insolvent in August, Wiesmann has now confirmed that the reasons for its original insolvency filing no longer exist.
Wiesmann hasn’t mentioned the reasons why it is no longer insolvent but has confirmed that its management team will be meeting with creditors on December 16.
Wiesmann, known for its retro-styled roadsters powered by BMW engines, says it has sold more than 1,600 of its hand-made sports cars since starting up 25 years ago. Most of those sales have been in European, which is currently hampered by deteriorating economic conditions.
The downturn has proven a setback, particularly to niche manufacturers like Wiesmann. In the past 12 months, we’ve seen similar firms such as Artega, Gumpert and Melkus also declare insolvency.