Spyker Spyker edges near bankruptcy

[PanterroR]

Two major creditors for Dutch carmaker Spyker have requested that the company and its Formula One racing team be declared bankrupt and are currently seeking legal action to retrieve money they claim are owed. The creditors include a Zürich insurance company and a private individual, who have told AD that they’re owed a combined €345,000.

Earlier this month, Spyker’s interim CEO Michiel Mol stepped down from the top job, as did former CEO and founder Victor Muller back in May. However, it’s thought that Mol resigned so that he would be free to make a bid for Spyker’s F1 team.

Spyker’s F1 unit has also reportedly suspended its chief designer John McQuilliam. Though the decision remains a mystery, Autosport claim that it’s likely to be because of the failure of the team’s B car to pass recent crash testing prior to the Turkish GP.


Source: Motor Authority » Spyker edges near bankruptcy

 

[ree]

That's terrible...they build such great cars - but participate at the Formel 1 was the wrong decision!!

 

[SDNR]

Really sad news for one of the oldest marques in the world. €345,000 seems like such a small amount of money as far as the auto-industry is concerned. It shows just how small the company really is.

 

[Monster]

Not surprised by the news. These sort of small makers of expensive "supercar" are often poorly managed. It is a question of when will it happen ever since Spyker was relaunched. Their cars have unique styling but they still behind the car manufacturers when it comes to engineering and development of their products.

 

[SDNR]

Not surprised by the news. These sort of small makers of expensive "supercar" are often poorly managed. It is a question of when will it happen ever since Spyker was relaunched. Their cars have unique styling but they still behind the car manufacturers when it comes to engineering and development of their products.

You are so right monster.

Reviving a great marque from the past is extremely risky ...even if you have the massive resources required ...like Bugatti has with VW.

 

[Bruce]

Such a shame and as a Rob pointed out, €345,000 isn't even a lot of money in the world of the supercar. Koenigsegg has also been have some extreme troubles - debting in at €245,000 and losing many millions per year.

While It ain't by anymeans an easy world to conquer, I do not think Spyker should have ever dipped they're hands into Forumla One. Doh.

One can only hope that Spyker pulls through this as they are one of the only manufacturers left on the earth with any character.

 

[PanterroR]

Dutch investment firm to buy stake in Spyker

Posted on Tuesday 4 December 2007



Officials from Spyker have confirmed that a letter of intent between the carmaker and Dutch investment firm ACI has been signed for the eventual sale of a stake in the company. Spyker also confirmed that it’s in talks with several other potential investors and that no final decision had been made.

Spyker has been in financial troubles recently and was forced to drop development plans for several new models as well as sell off its F1 team to help turnaround its rising debts.

Talks with potential investors are in the early stages, a Spyker spokesman revealed to Thomson Financial. Company director Victor Muller is expected to retain his 11% holding.

News of the possible sale had led to a suspension in trading of Spyker’s shares but it was soon lifted following the release of official statements from management.

 

[PanterroR]

Spyker in talks with Lithuanian investor

Posted on Wednesday 12 December 2007



Officials from Spyker have confirmed that it’s in exclusive talks with Lithuanian bank Snoras Group to help refinance and possibly sell a stake in the company. Spyker also confirmed that it’s in talks with several other potential investors and that no final decision had been made.

Spyker has been in financial troubles recently and was forced to drop development plans for several new models as well as sell off its F1 team to help turnaround its rising debts. Officials are hopeful a deal will be reached with Snoras Group soon and expect an outcome within the next ten days, reports DutchNews.

Previous talks with Lichtenstein-based firm ACI have since been dropped despite the signing of a letter of intent earlier this month.

 

[Rainer271]

This thread is 7 years old but the theme is still relevant:

Spyker money problems continue, company could be evicted


Spyker B6 Venator concept 1200
CEO Victor Muller contends the company will be fine
Spyker continues to swirl the drain as a Dutch court has determined the company has failed to pay their quarterly rent since the first quarter of this year.

The landlord wants the company evicted but the court decided Spyker can either pay the landlord or vacate the facility and pay €152,020 ($188,137) plus fees and interest until the debt is paid off.

That doesn't sound too promising but Spyker CEO Victor Muller told Jalopnik "This creditor, the landlord, was unwilling to wait any longer so he went to court. We expect funding in a matter of days and then we will pay him. We then either stay in the building or move to the adjacent building which we own." He added, "Either way we are fine."

As you're probably well aware, Spyker has been running into a lot of financial problems lately. A large portion of the company's assets were scheduled to be auctioned off in July but they managed to settle their tax debts before the auction took place. There have also rumors that the company has stopped paying their employees until their financial situation improves.

Source: De Rechtspraak and Jalopnik