Wiesmann closes its doors as it failed to found an investor

Article by Christian Andrei, on May 8, 2014

Back in August 2013, Wiesmann filed for insolvency at the Muenster court in Germany but by the end of the year the company announced that it found an investor, so everything looked good for the well-known carmaker. Today, we found out that Wiesmann closed its doors and that all its 125 employees were sent home, according to Dutch magazine Autovisie.

According to one of the employees, there were several investor calls but the money still didn’t come. As a result, Wiesmann closed its factory and the maintenance shop, which means that owners will have to take their cars to a BMW dealer as all of them are using BMW technology.

For those who don’t know, Wiesmann was founded in 1988, but in 2009 the first problems appeared as the company wanted to expand its factory in Dulmen and spent several million euros.

Back in 2013 at the Geneva Motor Show, Wiesmann unveiled their GT MF4-CS, but the company didn’t pay the development of this car to Racing Dynamics. In order to get their money, Racing Dynamics went to court in Aachen and forced Wiesmann to declare bankruptcy.

Racing Dynamics wasn’t the only supplier that wanted its payment, which forced Wiesmann CEO Rolf Haferkamp to stop production filed for bankruptcy.

The last sports car unveiled by Wiesmann, the GT MF4-CS, was priced from 193,193 euros, and was a Clubsport version of the GT MF4-S. 20 kg lighter than the standard version, the Wiesmann GT MF4-CS was powered by a same 4.2-liter V8 found on the BMW M3 that delivered 420 hp.

The engine could push the MF4-CS from 0 to 100 km/h (62 mph) in 4.4 seconds, while top speed was limited at 293 km/h or 182 mph.

Topics: wiesmann, bankruptcy

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