Embattled sports car firm Spyker officially bankrupt

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Sports car manufacturer Spyker declared bankruptcy Thursday after years of financial turmoil following the firm’s failed attempt to revive Swedish automaker Saab. The Dutch firm filed for voluntary financial restructuring earlier in December. Thursday’s announcement came as owner Victor Muller was unable to secure bridge financing to give the firm some breathing room to restructure the firm. The automotive firm was even evicted by a court order from their facility for failing to pay rent, though the landlord decided to let Spyker stay. “None of the ambitions we had when we founded Spyker 15 years ago, has vanished as a result of today’s events,” Muller said in a statement. “In 2000 we set out to establish a super sports car business from scratch with a global distribution and we achieved that. Over the years we undertook some daring ventures that left their marks on the company which in turn contributed to today’s demise.”

Quoting Winston Churchill, he said, “this is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning.” Spyker filed a $3 billion lawsuit against General Motors in the U.S., accusing the American manufacturer and former Saab owner of obstructing Spyker’s attempt to sell the firm. A judge in the U.S. dismissed the case before the December filing. “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,” Muller said. The administrator assigned to oversee the company’s restructuring will be the receiver monitoring the firm’s bankruptcy. “This is the moment to express my gratitude to our customers, dealers, suppliers and of course our employees and Board,” Muller continued in a statement. “Their loyalty and support was vital to build the brand over the past decade and a half.”

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