Sports Car

Spyker Files for Dutch Equivalent of Chapter 11 Bankruptcy

Definitely not the news we'd been hoping to hear.

Boutique sports car builder Spyker has just filed for what’s called a voluntary petition for temporary moratorium of payment, basically the Dutch equivalent of American Chapter 11 bankruptcy proceedings. We haven't heard much from the carmaker for some time, but this isn't the news anyone wanted. Spyker founder and CEO, Victor Muller, stated that "Over the past few years, Spyker has faced a number of serious difficulties and challenges resulting from, among others, the legacy of the F1 era and the acquisition of Saab Automobile.

Our Management and Board have been working very hard in the last 12 months on a restructuring plan that includes the execution of Spyker’s B6 Venator program…and the merger with a US based manufacturer of high performance electric aircraft, the exciting new sustainable technology of which will find its way into future Spyker Automobiles." For now, Spyker is hoping to secure a loan facility arranged by independent financiers with the intention of providing an immediate source of funds to keep daily operations running. This will also include employees’ salaries and customer service programs. We really wish Spyker all the best and hope things get sorted soon…this time for the long haul.

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