Apparently business isn’t booming for Bertone, one of Italy’s famed design houses. The company is entering into bankruptcy proceedings and has begun laying-off a large portion of its workforce.
The firm has two possible outcomes: liquidation or a buyout. Luckily for Bertone, it looks like the later may be on the horizon. Sources indicate that a Turkish group may buyout the company and accept all of Bertone’s debts. This is nothing new for Bertone though. The company has had a recent history of financial problems, most notably in 2007, with many analysts believing that the current business model for design houses is no longer workable.
Many design houses have been integrated and bought out by larger automakers, which to be honest makes perfect sense in today’s mass produced economy. The company has produced some amazing cars of its lifetime, we’re not sure the world is ready to part ways with Bertone just yet.
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[via Autoweek]
