Spyker Officially Bankrupt

Dutch builder of high-end bespoke sports cars Spyker has been officially declared bankrupt.

Earlier this month the company announced it was starting voluntary financial restructuring, and was granted a temporary moratorium of payment to creditors. Now, the District Court of Midden-Nederland has converted that moratorium to full bankruptcy because the committed bridge funding Spyker was counting on did not reach the company in time.

Spyker originally hit the scene in 1880 and operated until 1926. The company was then resurrected in 1999 to build the C8 sports car. In 2006 Spyker tried to break into Forumla 1, then later the company tried to purchase Saab, two endeavors that didn’t work out for the company. Spyker was working towards bringing the B6 Venator, an entry-level sports car, to the U.S. market.

“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 AB,” said Victor R. Muller, Spyker founder and Chief Executive Officer. “I will relentlessly endeavor 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,” said Muller.