Exotic Carmaker Wiesmann Goes Broke

Germany's Wiesmann GmbH, a maker of highly customized retro-styled performance cars, has filed for insolvency.

The 25-year-old company says it will continue operations while searching for investors and strategic partners. The company markets its cars in Europe, Asia and the Middle East.

Wiesmann's 100-person staff creates about 200 cars per year, each powered by a BMW engine and tailored to the owner's special requests. The company's current lineup consists of the GT MG4 and MG5 and Roadster MF4 and MF5. Prices range from roughly $170,000 to $335,000.