Spyker declares bankruptcy image

On Tuesday, Spyker, the Dutch sportscar maker which owned Saab, was declared bankrupt when not succeeding to secure a loan that would revive its finances and restructuring.

Founded in 2000, the company applied for protection from creditors but failed in its attempt earlier this month. The latest actions of Victor Muller, the company’s founder and chief executive, are now to resurrect the group and concentrate on electric vehicles.

This comes from the company that once owned Saab before the sell in 2012 to Chinese owned NEVS AB, and once fielded Formula 1 team, but was left marked by some daring ventures taken in the past. The company recently focused on supercars like B6 Venator in order to enlarge the brand’s appeal.

After failing to pay the rent, Spyker had received an eviction order from the premises. They also lost to General Motors in a 3 billion dollars lawsuit, in which Spyker accused GM of getting involved in the plan of selling Saab to a different buyer than the one that actually succeeded. The case was dismissed by the U.S. court earlier this year.

The company will now be guided through the bankruptcy actions by the same administrator that was named to run the company when applying for creditor protection.

By Gabriela Florea