Sadly, another car company is raising the white flag. Karmann, who has become famous for the conversion of its Karman Ghia, is finally shutting it doors. Almost a year has passed with back to back bankruptcy scares, closures, and purchase.

Of course, the next possible step is filing for bankruptcy. However, the firm is not yet certain if Karmann would take the alternate route.

While Karmann holds contracts for other companies, the latest model it built was the Mercedes-Benz CLK, which the E-Class Coupe replaced.

Sadly, the convertible rolled off Karmann’s assembly earlier this week. According the a report in The Straits Times, with the parting of the last Karmann-built model, the world is not guessing whether a successful comeback for Karmann is possible, in the hands, of course, of one or more new owners.

The sudden closure of Karmann was followed by a fight with IG Metall, the company’s workers union. However, the global financial crisis that hit the industry hard gets the blame for it has reduced the production dramatically.

Few of Karmann’s most valuable produce are as follows: Mercedes CLK, Beetle, Ford Escort, and a few Audi cabrios. The models have given Karmann roughly 3.3 million since 1949. Today, however, we have to wait to see what path Karmann would take.