Gumpert Applies for Provisional Insolvency

German supercar maker Gumpert has filed for provisional insolvency, stating that its expected sales volume in China couldn’t be realized.

The decade-old company has struggled trying to emerge in China’s affluent market, and will now hope to get investors so that it can return to focusing on the European market and its consumers. Fortunately for now, it’s not all over for Gumpert as the local court in Gera, Germany has appointed the automaker a provisional insolvency administrator. The lawyer has already paid a visit to the factory and has spoken to all 30 employees and feels optimistic on a chance of recovery.

Hopefully Gumpert will round up enough investment money to start paying down its debts. Its supercar Apollo still holds the Nürburgring lap time record for a street-legal production car.