Thursday, December 18, 2014

Saab’s former owner Spyker in bankruptcy – Swedish Radio

Saab's former owner Spyker in bankruptcy – Swedish Radio

Dutch sports car maker Spyker, former owner of Saab Automobile, has gone bankrupt today. The owner Victor Muller did not get the money in time.

In a press release said Victor Muller that the reason for bankruptcy is that the proposed bridge financing did not come in time.

The founder and CEO Victor Muller would normally not give up.

“I’ll be back,” writes Muller in a text message to P4 West. He does not want to set up an interview.

“I will relentlessly strive to revive Spyker as soon as practicable,” he says in a press release.

He also quotes Winston Churchill: “This is not the end. This is not even the beginning of the end. But it is, perhaps, the end of the beginning.

Spyker bought Saab Automobile from GM and was the savior when the automaker in Trollhattan would be shut down. But after about a year Spyker was hit by financial problems and a long hunt for new money started.

Victor Muller flew around the world to find new funding, but without success. Therefore the the bankruptcy in December 2011 for Saab.

Spyker survived, but has had a major economic problems since then. Today, it was no longer – Spyker was declared bankrupt.

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