Dutch carmaker Spyker has filed for bankruptcy due to insufficient funds from a bridge loan, Automobile Magazine reported yesterday. Spyker Companies, which also includes subsidiaries Spyker Automobielen and Spyker Events & Branding, had been losing money ever since its deal to purchase Saab from General Motors fell through in 2012. When General Motors announced it would close the Saab brand in 2009, Spyker stepped in to buy out the company, and the sale went through in 2010. The two companies intended to continue production of Saab cars in Sweden. After Saab began to lose money, Spyker was unable to compensate for losses, and Saab filed for bankruptcy in 2011. Spyker filed a lawsuit after this claiming that GM took action against the Saab-Spyker deal, but the claim was dismissed, and Saab was then sold off to a Chinese company that eventually formed National Electric Vehicle Sweden. A few other deals with various partners fell through, and Spyker continued to lose money until reports surfaced last month that it could not pay its bills and was in danger of eviction from its factory in the Netherlands. Now, the bankruptcy filing is a result of this inability to pay, as Spyker’s statement says that “committed bridge funding did unfortunately not reach the company in time.”
