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Spyker Files for Financial Protection
Dutch supercar maker Spyker Automobiles BV has filed for financial restructuring and amnesty from its creditors as it again struggles to avoid collapse.
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Dutch supercar maker Spyker Automobiles BV has filed for financial restructuring and amnesty from its creditors as it again struggles to avoid collapse.
The filing asks a Dutch court to temporarily waive its need to pay down debt so it can continue operations while attempting to improve its financial situation. The shield is similar to America's Chapter 11 bankruptcy protection.
Spyker's supercar business hasn't earned a profit since it was founded in 2000. The company was buffeted by a costly foray into Formula One racing in 2007 and again when it acquired Saab Automobiles from General Motors Co. in 2010.
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