German Specialty Carmaker Wiesmann Files for Insolvency

Wiesmann GmbH, a boutique maker of retro sports cars, has filed for insolvency in Germany.

Duelmen, Germany-based Wiesmann says it will continue operations while it seeks investors and strategic partners. The company was founded in 1988 by brothers Martin and Friedhelm Wiesmann.

The company hand builds about 200 cars annually, including such models as the GT MF4 and Roadster F5, which are equipped with BMW engines. All bear Wiesmann's gecko logo signifying that the cars "stick to the road like geckos stick to the wall."