Boutique automaker Spyker has been declared bankrupt by a Dutch court after it failed to obtain bridge funding in time. The announcement puts an end to years of financial issues that intensified when Spyker ambitiously acquired Saab from General Motors in early 2010.
Details surrounding the deal are scarce but a brief statement published online explains the administrator that ran the company after it applied for protection from its creditors will now work as a receiver. The bulk of Spyker’s tangible assets will presumably be sold in order to pay off debts.
Before filing for bankruptcy, Spyker was trying to kick off production of the B6 Venator (pictured), a sleek coupe with an exquisite interior powered by a Lotus-sourced V6 engine. A convertible version of the B6 was also in the works, and Spyker was believed to be developing a crossover inspired by the eight-year old D8 Paris-to-Peking concept using cash received from a Chinese company called Youngman.
Related: Saab production grinds to a stop
Although Spyker appears to have reached the end of the road, CEO Victor Muller doggedly believes that the company has a bright future ahead of it.
“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,” explained the executive in a statement.