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Old 23rd December 2014, 17:30   #1
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Default Official: Spyker declares bankruptcy

Dutch car maker Spyker has been declared bankrupt by the District Court of Midden-Nederland. The company has been plagued by financial issues which were catalyzed after Spyker took over SAAB from GM in 2010. Over the 4 years that followed, Spyker's financial misfortunes piled up. The brand couldn't obtain the committed bridge funding in time to execute their reorganization plan. This led to Spyker's bankruptcy.

Victor R. Muller, Founder and Chief Executive Officer of Spyker however, is still positive about the future. "This is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning" to quote Winston Churchill." said Muller. Efforts will be on to resurrect Spyker as soon as "practically possible". Predicated on the revival being successful, Muller plans to merge with a high performance electric aircraft manufacturer and "develop revolutionary electric Spykers with disruptive sustainable technology."

Official: Spyker declares bankruptcy-spykerb6venator2970x646c.jpg

Last edited by Tushar : 23rd December 2014 at 18:09.
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Old 23rd December 2014, 22:26   #2
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Default Re: Official: Spyker declares bankruptcy

Another boutique supercar dying. Though not to everyone's taste, Spyker IMO made some
incredibly cool cars. Their cars looked nothing like else and had one of the most jaw dropping interiors.
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Would you just look at that Gear lever! Stunning attention to detail. I hope they get back up soon.
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Old 24th December 2014, 16:32   #3
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Default Re: Official: Spyker declares bankruptcy

Hardly surprising. Spyker sold less than 50 cars a year for most of its life. Not an aspirational brand, or one with much recall, but priced like an exotic. Clearly, no one desired their cars.

It's tough for any tiny car maker to survive today. Consolidation is a need, not a luxury. Even far bigger exotic brands like Ferrari, Lamborghini & Porsche eventually came under a bigger corporation with deeper pockets.

Just a note: Declaring bankruptcy doesn't mean it's R-I-P. Companies can declare bankruptcy to clean up their sheets. Best example is General Motors. It declared bankruptcy in 2009, but is very much in business today. Nevertheless, I don't see any future for Spyker.
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