Gemballa…Gemballa, Where Art Thou Gemballa?

The latest updates on Gemballa isn’t looking any brighter. The Porsche tuning house has confirmed its path towards bankruptcy after founder and CEO, Uwe Gemballa, dropped off the face of the earth without a trace. His last known location was in South Africa back in February.

The company had apparently been facing difficulties paying their employees at the end of every month. Consequently, Uwe then created a dummy corporation with his mother as the main stock holder before disappearing.

Before Uwe’s disappearance, he was apparently seeking investors for a new venture in both Abu Dhabi and South Africa. South African police are now fearing the worst.