Spyker declares bankruptcy

Dutch Sports car manufacturer Spyker has announced bankruptcy. Spyker had entered a bankruptcy protection program in Netherlands earlier this month, but failed to secure the funding it required to stay afloat. 

 

Victor Muller, founder and chief executive, however, remains optimistic about restarting operations in the future. “None of the ambitions we had when we founded Spyker 15 years ago have vanished as a result of today’s events," he said in a statement. "In 2000, we set out to establish a super sportscar business from scratch, with global distribution and we achieved that. Over the years, we undertook some daring ventures that left its marks on the company, which in turn contributed to today’s demise.

 

"I will relentlessly endeavour to resurrect Spyker as soon as practically possible and, assuming we will be successful, pursue our goal to merge with a high performance electric aircraft manufacturer and develop revolutionary electric Spykers with disruptive sustainable technology.

 

Spyker had acquired Saab from General Motors in 2009 and oversaw the company going down, had filed a voluntary petition in a Dutch court on December 2, for financial restructuring in an effort to address certain short-term operational and liquidity challenges, which was granted.

 

Since the bankruptcy protection program began, Spyker was protected from its creditors. During this time, the firm was seeking an external loan to pay wages and carry out day-to-day businesses, failing which, they had to file for bankruptcy. The company was also unable to pay rent for its factory premises dating back to the first quarter of 2014, and were facing an eventual eviction from the factory.