The legendary Italian styling house Bertone, responsible for designs such as the Lamborghini Miura, Lancia Stratos and the Fiat X/19, has confirmed it has entered bankruptcy proceedings.
The company has been in financial turmoil for a number of years, narrowly escaping bankruptcy in 2007. The majority of Bertone's employees were laid off more than a month ago, and it now has until next month to find a buyer. If a buyer can't be found, the company will be sold off by the Italian courts.
A spokesperson for Bertone told the Daily Telegraph: "The problem is many debts and very high costs. At the moment everything is blocked. People haven't been coming to work for a month and a half now."
The company's fate should be known by the end of next month. Until then, the fate of the once-great design house -- and the 120 people it employs -- remains uncertain.
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