Spyker Bankrupt, Muller Determined

Most of you would have heard the news by now, but for those who have not…..

Spyker’s situation went from really bad to terminal last night when their bankruptcy protection/reorganisation status moved into plain old bankruptcy (receivership). Spyker Cars sought protection from its creditors just two weeks ago but the bridge funding it was counting on to survive the reorganisation process has not materialised. The court moved the company into receivership at the request of the administrator leading the reorganisation.

The-Black-NightTypically, our mate Victor Muller (right) doesn’t see this as the end of the road.

“None of the ambitions we had when we founded Spyker 15 years ago, has vanished as a result of today’s events. 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.

However, I would like to make clear that as far as I am concerned “this is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning” to quote Winston Churchill. I will relentlessly endeavour 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.

Gags aside, I am very saddened by this news, if not surprised.

I admire Vic because he has a crack at things. He doesn’t wait for someone else to do it. Yes, he often does things with other people’s money but tell me the name of a business or entrepreneur that doesn’t. This is the way of the business world and investors know it.

Victor – I wish you well, my friend. I will be following your movements and hoping like crazy that you get to build those electric Spykers.

Nulla Tenaci Invia Est Via

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  1. I’ve been waiting since I heard the news for your comments…… my sentiments exactly except considerably better put than myself. Victor Muller tried…. and I wish him the very best to come bouncing back!

  2. More Blood on GM tomestone….

    Bit harsh maybe, but they certainly cause a tsunami in their wake……!!

  3. This is really sad especially as I met Victor in Ohio at the Saab convention the year that Saab USA made the NG 9-5 available for test driving. One Saab dealer who also sold Spykers showed up with his. It was the first and last one I ever saw. The craftsmanship was impeccable, especially the gear shifter.

    Victor was a very interesting man to talk to. Why do these bust-ups always happen at this time of the year? It seams as if the courts just want to dump everything in post-haste and make a beeline home for Christmas!

    Ironically look at the difference in autodom that Koenigsegg is making.

  4. Seems to me many entrepreneurs have difficulties admitting defeat or dealing with emotional losses. Their perseverance might partly stem from that. To me the Spyker brand is badly damaged, I don’t know how many clients with means to purchase one want to be associated with Spyker anymore. Not that I think there ever will be another Spyker made. All the best and lots of strength to Victor Muller anyway, that’s a taxing 15 years right there.

    Meanwhile in Sweden, if anyone wants to get an idea of a going rate or even bid for one of the 9-3s Nevs made earlier this year, there still is at least one web auction taking place at https://www.kvd.se/auktion/personbil?brandSaab=Saab.

  5. Spyker and especially Mr. Muller always had a lot of critics. Many have a strong opinion about the cars or Mr. Muller’s business practices. However, not many can or are willing to take the risks in starting a car company and designing and building their own unique cars. He also was one of the few who saw the potential of Saab and showed real compassion and interest in the brand, the company and the people.

    I am sure we haven’t seen the last of Mr. Muller and his adventures in the automotive world. But everytime a car company goes away, the car world becomes a little less interesting.

  6. *********************************************************
    Yes, he often does things with other people’s money but tell me the name of a business or entrepreneur that doesn’t. This is the way of the business world and investors know it.

    I miss the Chinese NEVS who put up with their own money.

    I miss the financial wizardry of Mr. Muller, too, despite its failing to impress investors this time leading to the inevitable consequence of “plain old bankruptcy (receivership)”.