The Dutch Automaker Spyker Has Officially Been Declared Bankrupt - Overdrive
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The Dutch automaker Spyker has officially been declared bankrupt

24 Dec 2014 / 1

The auto industry is not exempt from the ebb and flow of business. Take for instance, the recently announced bankruptcy of Spyker which once had a Formula One team competing in the 2007 World Championship. The Dutch automobile company produced high-end sportscars – some of which were iconic examples like the C8 Spyder and the C8 Laviolette. In the year 2010, the company also acquired Swedish car manufacturer Saab Automobile from General Motors.

Spyker C8 Aileron

The Spyker C8 Aileron

The company claimed that the cause for the declaration was the committed bridge funding not reaching the company on time. Founder and chief executive officer,Victor R Muller said, “None of the ambitions we had when we founded Spyker, 15 years ago, has vanished as a result of today’s events. In 2000 we set out to establish a super sportscar business from scratch with a global distribution and we achieved that.”

The brand, as is reflected from the two-winged propellor in its logo, has a history of producing aero engines. Muller still believes a resurrection is possible for Spyker by merging with an electric aircraft manufacturer and developing electric Spykers with sustainable technology. Victor expressed his gratitude towards customers, dealers, suppliers and the employees saying that their support was vital to build the brand over the past decade and a half.

He concluded with a latin proverb ‘Nulla Tenaci Invia est Via‘ which when translated to English means, “For the tenacious, no road is impossible.”

SPYKER COMPANIES DECLARED BANKRUPT

Zeewolde, the Netherlands, 18 December 2014. Today the District Court of Midden-Nederland, at the request of the administrator, converted the moratorium of payment, granted to Spyker N.V. and its wholly owned subsidiaries Spyker Automobielen B.V. and Spyker Events & Branding B.V. (collectively "Spyker" or the "Company") on December 2nd, last, to bankruptcy. The cause for this conversion was that the committed bridge funding did unfortunately not reach the company in time. The administrator will continue his work but now as receiver.

Victor R. Muller, Founder and Chief Executive Officer said: "None of the ambitions we had when we founded Spyker 15 years ago, has vanished as a result of today's events. 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.

However, I would like to make clear that as far as I am concerned "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. 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.

This is the moment to express my gratitude to our customers, dealers, suppliers and of course our employees and Board. Their loyalty and support was vital to build the brand over the past decade and a half. They can count on us continuing to live by the Spyker axiom "Nulla Tenaci Invia est Via" (Latin for "For the tenacious no road is impossible").


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