Official: Spyker declares bankruptcy

Dutch car maker Spyker has been declared bankrupt by the District Court of Midden-Nederland. The company has been plagued by financial issues which were catalyzed after Spyker took over SAAB from GM in 2010. Over the 4 years that followed, Spyker's financial misfortunes piled up. The brand couldn't obtain the committed bridge funding in time to execute their reorganization plan. This led to Spyker's bankruptsy.

Victor R. Muller, Founder and Chief Executive Officer of Spyker however, is still positive about the future. "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." said Muller. Efforts will be on to resurrect Spyker as soon as "practically possible". Predicated on the revival being successful, Muller plans to merge with a high performance electric aircraft manufacturer and "develop revolutionary electric Spykers with disruptive sustainable technology."