New reports coming out of Sweden say local supercar manufacturer Koenigsegg is in financial trouble, not being able to service its debts. According to Sweden’s Realtid, Koenigsegg owes its creditors the amount of €240,000 and is seeking new investors to help raise the necessary funds.

The company, which was formed in 1993, employs just 30 people and only delivered its first customer car in 2002. That following year it suffered a setback when a fire burnt production facilities to the ground, which led the owner and founder Christian von Koenigsegg to move operations to a former Swedish Airforce Base.

Koenigsegg was started by one man’s dream to build a world class supercar and we hope its fortunes turnaround soon.