bankruptcy

  • Lordstown Endurance

    EV startup Lordstown recently warned that it might not be in business within 12 months, and now it has lost its CEO and CFO.

  • 2020 SsangYong Korando
    Korea's SsangYong declares insolvency, enters restructuring

    With the slowdown caused by the pandemic, SsangYong has failed to make repayments to creditors.

  • Bloodhound SSC
    Bloodhound land speed record project saved by buyer

    A savior for Bloodhound Programme Ltd, the company working on an attempt to smash the land speed record for a steerable car, has been found. The savior is Ian Warhurst, who it was announced on Monday is the new owner of Bloodhound Programme. It isn't clear how much Warhurst paid for Bloodhound...

  • Bloodhound SSC conducts first public test - October 26, 2017
    Bloodhound land speed record attempt disbanded

    Bloodhound Programme Ltd, the company behind the Bloodhound SSC land speed record attempt, was disbanded Friday after it failed to secure new funds. The attempt had been on hold since October 15 when Bloodhound entered administration, a process similar to bankruptcy protection. To get off the...

  • The Campagna T-Rex 14R - image: Campagna
    T-Rex maker Campagna files for bankruptcy

    The company behind the wild T-Rex three-wheeler has sought bankruptcy protection. According to a Jalopnik report from Monday, Campagna has filed for bankruptcy, though the extent of the Canadian firm's money problems is unknown. Campagna has built the T-Rex three-wheeler since 1995. As the pride...

  • Bob Bondurant School of High Performance Driving
    Bob Bondurant school of driving closes amid bankruptcy filling

    The Bob Bondurant School of High Performance Driving closed its doors Monday, slightly more than a month after the school filed for Chapter 11 bankruptcy protection. The news was confirmed by a spokesman for the school. A call to the school’s president and CEO, Patricia Bondurant, was not...

  • JD Classics center in Maldon, United Kingdom

    JD Classics can breathe a sigh of relief as it's been sold to a new owner. AM Online reported Tuesday that the major classic car restorer and dealer found a buyer in Woodham Mortimer, a company controlled by HPS Investment Partners LLC. Woodham Mortimer's purchase of JD Classics secured 60 jobs at the company's headquarters in Maldon, England, and the sale includes the company's workshop, restoration business, and racing team. Alvarez & Marsal Europe LLP (A&M), which was brought in to oversee JD Classics' administration (similar to bankruptcy protection in the United States), said in...

  • JD Classics center in Maldon, United Kingdom
    Major classic car dealer and restorer JD Classics hits financial troubles

    Classic car sales have been on a tear for the past decade but that hasn't insulated one of the biggest names in the business from becoming insolvent. British firm JD Classics, a dealer of classic cars but also an expert restorer and organizer of classic racing events, entered administration on...

  • 2020 Tesla Roadster
    Bob Lutz: Tesla is “going out of business”

    After questioning the viability of Tesla two years ago in an op-ed titled “Is Tesla Doomed?,” Bob Lutz is now flat out stating the company is going out of business. “The company, folks, is going out of business,” he told CNBC in an interview Friday. “At this rate...

  • Skip Barber 2-Day High Performance Driving School
    Skip Barber Racing School files for bankruptcy, seeks buyer

    Famed driving instruction academy Skip Barber Racing School on Tuesday filed for bankruptcy. Specifically, the school, which has coached drivers since 1975, filed for Chapter 11 protection with a United States Bankruptcy Court for the Southern District of New York. Chapter 11 allows the company to...

  • 2016 Manor Formula One race car
    End of the road for F1 backmarker Manor

    Formula One team Manor Racing, formerly Marussia, was disbanded on Friday. The news comes after the team announced on January 6 that it had entered administration, similar to bankruptcy protection, after several months of failed talks with potential investors to back it in the 2017 season. But with...

  • 2013 Wiesmann GT MF4-CS
    German Sports Car Brand Wiesmann Sold To Indian Investors

    Wiesmann, the German manufacturer of lightweight, retro-styled sports cars powered by BMW M engines, finally went out of business last year after several years of barely scraping by. Since then, founders Martin and Friedhelm Wiesmann have been on the lookout for a buyer, and now it seems...

  • Caparo T1

    Britain’s Caparo T1 was billed as the ‘closest thing to driving a Formula One car on the road’ when it was first unveiled back in 2006. The car looked just like a formula race car, and its powerplant was a small, high-revving V-8 similar to what was used in F1 at the time. Unfortunately, the extreme nature of the T1 and some very public teething issues meant its maker, Caparo, was always going to face an uphill battle to become a household name. Now, the company has been dealt a major blow. It’s been revealed that Caparo’s parent company, Caparo Group, which is...

  • Mission Motorcycles R
    Mission Motorcycles Runs Out Of Juice, Files For Bankruptcy

    In 2011, Mission Motorcycles set the record for fastest electric motorcycle lap of Mazda Raceway Laguna Seca. And while the record still stands, the San Francisco-based company is no more. ALSO SEE: Porsche Mission E Electric Sedan Concept: 310-Mile Range, 15-Minute Charging--Live Photos &...

  • Spyker B6 Venator Spyder concept
    Spyker Exits Restructuring, Says It Will Develop Electric Cars And Planes With Volta Volare

    Spyker was forced into bankruptcy late last year by a Dutch court after it was determined the struggling sports car brand wouldn’t be able to pay back all of its creditors. A bridging loan provided to the firm in January meant Spyker was able to exit bankruptcy, although it still needed to...

  • 2014 Saab 9-3 Aero
    Saab Owner NEVS Exits Bankruptcy Protection

    After running out of cash last May due to a failed deal with a Chinese backer, Saab’s owner National Electric Vehicle Sweden (NEVS) was facing bankruptcy but was thrown a lifeline by a Swedish court that awarded the struggling firm a reorganization period. That same court, the District Court...

  • 2014 Saab 9-3 Aero
    Facing Bankruptcy, Saab Owner NEVS Seeks Debt Reduction From Creditors

    Saab’s latest woes appear to have no end in sight with news emerging overnight that the automaker’s owner, Chinese-backed National Electric Vehicle Sweden (NEVS), which itself is facing bankruptcy and currently in administration, is seeking a reduction on some of its debts. NEVS is...

  • Caterham's 2014 Formula One car
    Caterham F1 Hopes Fade As Administrator Puts Assets Up For Sale

    Despite raising enough cash to finish off the 2014 Formula One World Championship, struggling team Caterham F1, now a separate unit to the Caterham sports car brand, looks like it’s lost all chance of racing this season and will now likely be sold off or disbanded altogether. Administrators...

  • Spyker B6 Venator concept car

    Spyker was finally forced into bankruptcy late last year by a Dutch court after it was determined the struggling sports car brand, already behind in its payments, wouldn’t be able to pay back creditors. Fast forward to today and Spyker is no longer in bankruptcy thanks to a bridging loan that will keep the company going for the time being. The bridging loan provided a solid foundation for Spyker in lodging a successful appeal to have the bankruptcy ruling overturned yesterday in court. The automaker isn’t quite out of the woods yet, as it still is operating under a...

  • Spyker logo
    Spyker Declared Bankrupt, CEO Hopeful Of Electric Car Revival

    After successfully filing for bankruptcy protection with a Dutch court just two weeks ago, struggling sports car brand Spyker has been declared bankrupt due to its inability to source bridge funding to continue operations. The decision was made today by the district court of Midden-Nederland, at...

  • Saab 9-3 EV electric prototype shown by NEVS, 2014
    Saab Owner NEVS Close To Reaching Deal With India’s Mahindra: Report

    Earlier this month, cash-strapped Saab owner National Electric Vehicle Sweden (NEVS) asked a Swedish court to extend the period for its restructuring so that it could finalize a deal with a new investor. NEVS said at the time that it was in talks with two Asian firms, which court documents have now...

  • Spyker B6 Venator (production-spec)
    Spyker Files For Bankruptcy Protection, Says It Will Merge With Electric Aircraft Manufacturer

    Still reeling from its failed attempt to rebuild Saab, Dutch sports car manufacturer Spyker has run into what the company describes as “short-term operational and liquidity challenges” and has been forced to file for bankruptcy protection. A Dutch court has approved the application for...

  • NEVS starts production of 2014 Saab 9-3
    Facing Bankruptcy, Saab Owner NEVS Says It Has New Asian Investor

    The Saab name continues to be dragged through the mud, with its current owner, National Electric Vehicle Sweden (NEVS), struggling to stave off bankruptcy and secure a new investor. NEVS purchased the assets of Saab in late 2012 after the Swedish automaker’s previous owner Spyker went...

  • Saleen logo
    Saleen on the verge of bankruptcy?

    Vehicle tuner Saleen looks to be in some serious financial trouble, with a recent quarterly report filed by the company with the Securities and Exchange Commission revealing the dire situation. According to the report, Saleen had just $7,261 in cash as of September 30, 2014, and liabilities...

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