Italian automaker Gruppo Bertone may have entered into bankruptcy after it stopped trading due to legal claims that were lodged by suppliers, media reported.
It has been reported that the company has removed 165 workers and 11 interns in the last week.
Gruppo Bertone ex-chief designer Michael Robinson was quoted by inautonews.com as saying: "I cannot say what will become of the once great design house. Fortunately crisis holds opportunity."
A Turkish company has reportedly offered $2.7m for the Italian automobile company. In addition, seven other Italian companies also seem interested in buying the firm.
The carmaker escaped bankruptcy in 2007 and in late 2011.
Founded in 1912 is in Grugliasco, northern Italy, the company offers car styling, coach building and manufacturing services to the automotive industry.