Karmann, the renowned coachbuilder famous for building convertibles, has shut down today after declaring insolvency.

Its last car, a Mercedes Benz CLK Convertible, rolled off the line on Monday. The company was most famous for its Volkswagen-based Karmann Ghia coupe and convertible, but recently it has been responsible for producing the likes of the Spyker C8, Audi A4 Cabriolet, Chrysler Sebring Convertible, Volkswagen New Beetle Convertible, and the Pontiac G6 Convertible.

Karmann said that it went bust last week, but hopes still exist of the company reorganising itself and staying in business producing parts. Unfortunately, infighting between the company's organisation and workers' union is proving to be the major stumbling block towards any form of restructuring.