Insolvent Wiesmann wants a fresh start image

Although the plan has not yet overcome all obstacles, for the beautifully retro sports car small series manufacturer Wiesmann, recovery could be in sight: the company could convert to a stock corporation.

Many had already written off the noble sports car maker from Dülmen after it filed for bankruptcy in the summer. But now a little bit of hope glows on the horizon. On January 10, 2014, the creditors of the insolvent manufacturer of exclusive sports cars will vote on a possible reboot.

According to data from the insolvency administrator Norbert Küpper, the aim of the move is to convert the company into a stock corporation. Already, a refurbishment contract has been signed, but is not yet clear what percentage from their claims should the creditors give up for the move to actually happen.

Wiesmann has built about 1,600 sports cars in the past 25 years. The company has over 100 employees. Also, who should be among the main buyers is not yet known. The main shareholders of the previous form of the company will also participate in the joint-stock company but there is no word on who would hold the majority.

Via Spiegel,