Spyker's voluntary restructuring has taken a turn for the worse as the District Court of Midden-Nederland has been declared the company bankrupt.

Spyker's voluntary restructuring has taken a turn for the worse as the District Court of Midden-Nederland has been declared the company bankrupt.

The move was requested by the court-appointed administrator following the company's failure to obtain bridge funding to execute their reorganization plan. As a result, the administrator will now act as a receiver and, presumably, sell assets to pay off the company's debts.

In a statement, Spyker CEO Victor Muller said "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."

The executive went on to say "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."

Be part of something big