Spyker Dodges Bankruptcy

“Spyker, on Thursday, won its bankruptcy appeal filed on December 29 with the Appeals Court of Leeuwarden in the Netherlands. This means, according to the company, ‘that by law Spyker was never bankrupt, and the company has returned to the moratorium of payment status.’” (http://autoweek.com/article/car-news/spyker-ducks-out-bankruptcy).

From what I could gather from the article, Spyker is a relatively new up and coming Dutch car brand that is still trying to really make a name for itself. On December 18, the CEO and founder had to announce that he did not see their problem as the end and the resurrection of Spyker would come about as soon as feasibly possible. It never came to bankruptcy however and the company expects to bounce back as, during the process of waiting for the appeal decision, they reached agreements with the majority of their creditors and so they expect to be back in action, so to speak, sooner rather than later.

This story caught my eye in the wake of all the big auto bailouts in the not so distant past. Here is a relatively small (in comparison to the more well-known and established brands) company that rather than going under, has managed to stay afloat and come out the other side of something that has ruined many bigger companies’ than themselves. Stories of the “plucky underdog” succeeding where they are expected to fail are always something that grabs the reader’s attention and I was glad to see that they had made it. In the near future, they plan to release a model of sports car which they consider “entry level” to hopefully provide more drivers access to owning one of their cars. Their new entry level sports car, called the B6 Venator is rumored to have a 345 HP V6. Also, something I had found to be interesting was the fact that apparently Spyker (who I had never heard of prior to reading this article) is currently the owner of Saab and also sued GM on behalf of Saab after acquiring them. It is definitely nice to see a company whose CEO and founder is still alive and running the company, going up against companies that have been around a lot longer than themselves.

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One thought on “Spyker Dodges Bankruptcy

  1. Good post.

    This post actually reminds me that we might be at the same moment in time the American/global car market was at in the 1890s-1905. Lots of companies are competing trying to develop the next generation of autos, but it’s clear that a lot of these companies are going to fail in the long run.

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