As recently as March of this year German sports car manufacturer Melkus was making headlines with new model introductions, however, things have turned sour since then and now Melkus is making headlines once again, this time due to the company recently filing for bankruptcy with a court in Dresden, Germany. According to reports coming out of Germany, dwindling sales of the company’s RS2000 sports car are the reason behind its management’s decision to file for bankruptcy.

Melkus was founded in 1959 by German race car driver Heinz Melkus, and built a single model, the RS 1000, until it ceased operations in 1986. Six years ago Melkus’ son Heinz, who was running an engineering firm at the time, decided to build a successor to the RS 1000. That successor was the RS2000, a lightweight sports car just like the original RS 1000.

The business plan for the modern Melkus called for the production of 25 RS2000 sports cars per year, each priced at around 115,000 euros (approximately $143,485). The company, which is now run by Heinz Melkus’ grandson, Sepp Melkus, failed to reach that target and thus is in a situation where it will need a cash injection or become bankrupt, according to Focus.  

The grandson of Heinz Melkus is reportedly looking for investors to restart production and ensure the company remains viable in the future.

Melkus isn’t the only niche sports car brand doing it tough in Germany at the moment. Just last month another such brand, Artega, also filed for bankruptcy, and even the operator of the famous Nürburgring race track was forced into bankruptcy earlier this year, though it appears it has been offered some reprieve from the German government.