Super sports car manufacturer in provisional insolvency

Altenburg (Germany)-based manufacturer for super sports cars, Gumpert Sportwagenmanufaktur GmbH, had applied for insolvency proceedings, after expected sales volumes in the major target market China couldn't be realized. Local court in Gera (Germany) appointed lawyer Mr. Görge Scheid as provisional insolvency administrator. After a first factory inspection and talks with all 30 employees, Mr. Scheid considers the business' chances of recovery as extremely beneficial.

"The super sports car "apollo", developed by Gumpert is technically mature and holds superior
performance figures compared to all other cars. Now it's essential to reactivate the European market, which has been neglected over the past years."

First discussions with potential investors take place this week.

The highly-experienced Audi-Manager Roland Gumpert, who has set up his own business ten years ago and founded Gumpert Sportwagenmanufaktur on January 8 2004, has created with the apollo's
development and production a worldwide street-homologated sports car, which has been unbeaten by its competitors on the Nürburgring for more than three years now.

"The Apollo has gained an exclusive fan base throughout Germany and Europe. Now we have taken care of this customer base intensely. Production continues and we hope to sell the first vehicle within this week."