The saga of Wiesmann dates back to the late 1980s when a pair of German brothers set out to make retro sports cars. The first model was built in 1993 and a steady stream of new coupes and convertibles powered by a variety of BMW engines trickled out of the factory ever since until the company ran into trouble a little over a year ago. Since then Wiesmann has meandered in and out of bankruptcy, but now the founding siblings are reportedly on the verge of securing new funding to get their company back up and running again.

The news reported by Dutch publication Autovisie indicates that Martin and Friedheim Wiesmann are in discussions with new investors. The identity of the latest potential backers remains undisclosed, but the founding brothers suggest that it could all be wrapped up within 4-6 weeks. Failing that, it seems Wiesmann could be down for the count.

Last week we reported that, at the time of its insolvency, Wiesmann was working on a new entry-level model with styling derived from the Spyder concept of 2011 (pictured above) and with a price that would undercut the previous MF3 base model. If new funding can be obtained and the company lifted out of bankruptcy, that new model could prove intrinsic to its resurgence. Otherwise it may never see the light of day.

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