After 95 years in business Bertone faced its worst nightmare as in November 2007 the company went in bankruptcy protection due to several years of financial losses.
After almost a century in car designing and production Bertone faced its worst nightmare in November 2007 as the company went in bankruptcy protection after years in the red. However, the name Bertone is not going to disappear. On January 1, 2008 Lili Bertone announced that her company had signed an option to sell Bertone to Domenico Reviglio's Gruppo Prototipo. Despite this move from Lili Bertone, the company still remains under the protection of the Italian authorities for two more months.
Gruppo Prototipo is a Turin based company that owns the Nardo race track in Italy. It is also known as a testing specialist of prototype cars, particularly for Fiat Auto. At the Geneva Motor Show in 2007, Bertone presented the Barchetta Concept to mark its 95th anniversary. The car is based on the Fiat Panda 100HP.
In the final hour Bertone's escape was not expected after negotiations with FIAT and former Telecom Italia and Zanussi President, Gianmario Rossignolo were unsuccessful. For the past three years Bertone winded up to a total loss of €37.3m, on sales of €325m. The company has 1,350 employees.