To say that Spyker
has fallen on hard times in recent years would be a gross understatement, but now the troubled Dutch automaker has officially declared bankruptcy.
In a new announcement, Spyker confirms it has "filed a voluntary petition for financial restructuring" with the Dutch courts, which have granted it a "temporary moratorium of payment" – a procedure which the company itself equates to filing under Chapter 11 in the United States.
Reviving a dormant name previously used between 1880 and 1926, Spyker Cars set up shop in 1999 to make high-end luxury sports cars, starting with the C8
. In 2006, however, it bit off what proved to be more than it could chew when it took over what had been the Jordan Grand Prix team, subsequently selling it to Force India
. That failed venture didn't prevent it from the even-more-ambitious step of taking over Saab
from General Motors
in 2010, and we all know how that worked out.
In announcing its bankruptcy, Spyker identified those two financially crippling endeavors and the legacy of their costs as primary reasons for its current situation. The company tried to regroup post-Saab, launching plans to build its new B6 Venator
but apparently failing to raise the necessary capital to get that model off the ground. The company even tried, as it has now revealed, to merge with an unidentified American manufacturer of electric aircraft, but when that fell through, its fate, it seems, was sealed.
Spyker still hopes to restructure and proceed with plans to build the B6 Venator, but for now, its fate lies with the courts.