Bertone has officially entered bankruptcy proceedings in Italy, according to media reports.
Here, Steve Sutcliffe reflects on the once-great firm...
The firm narrowly escaped bankruptcy in 2007 and again in 2011. It has been alleged that the firm generated more than €20m of revenue last year, driven by a strong client base primarily in China, but many of its suppliers or employees have not been paid for some time.
It is understood a number of court cases are pending, and the firm recently laid off 160 workers. Suppliers are alleged to be pursuing legal avenues to reclaim costs.
Bertone’s ex-chief designer, Michael Robinson, who left the company before Christmas, explains. “I cannot say what will become of the once great design house”.
He said: “My design team was doing amazing things there, rebuilding the iconic brand after the dark years, but alas someone yanked the floor out from under our feet. That hurt.