Report: Bertone goes bankrupt after failing to find a buyer

Bertone has not had it well recently after entering bankruptcy proceedings earlier this year and just recently, the famous automotive design firm just filed for the status because the company wasn’t able to find a buyer with a credible business plan to keep them up and running.

The styling, coachbuilding, and manufacturing firm was established over 100 years ago in 1912 and has since styled cars for countless manufacturers from Abarth, Alfa Romeo, Aston Martin, Citroen, Ferrari, Iso Rivolta, Lancia, Lamborghini, Mercedes-Benz, Opel, and Volvo, just to name a few.

According to the latest report from Ward’s Auto, Bertone has racked up the equivalent of $42.1 million in debt over the last five years. Specifics as to what caused the company to go bust aren’t well known, but employees often spoke of “horror stories and business-related disasters.”

What’s left of the company, such as its land, buildings and car collection, are most likely going to be liquidated and sold off a lot as “historic national heritage” in Italy.

Source: Wards Auto

Chris Chin

Editor-In-Chief of egmCarTech Freelance Automotive Journalist / Editor / Photographer

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