bankruptcy

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...

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...

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...

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...

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...

Both the Marussia and Caterham Formula One teams have missed the last two races of the 2014 season due to financial difficulties, with the former still reeling from the Japanese Grand Prix accident that caused one of its drivers, Jules Bianchi, to suffer serious head injuries. The latest statement...

Just days after the Caterham F1 Team’s financial troubles were revealed, it’s emerging that fellow Formula One team Marussia is also struggling and has just entered administration. Administrators FRP Advisory said the U.K.-based team would continue to operate and that none of the staff...

The Caterham F1 Team is currently on shaky ground following news Caterham Sports Limited (CSL), an entity that builds the actual cars for the team, is in administration and its administrator refusing to release the cars for transport to Austin, Texas for the upcoming Formula One United States Grand...

Saab’s owner National Electric Vehicle Sweden said it intends to lay off up to 200 of the Swedish automaker’s employees as it attempts to reduce costs during its restructuring process. After briefly restarting Saab 9-3 production late last year, in May of this year NEVS ran out of cash...

Wiesmann, the German manufacturer of lightweight, retro-styled sports cars powered by BMW M engines, finally went out of business earlier this year after several years of barely scraping by. But for brothers Martin and Friedhelm Wiesmann, it’s still not quite over for the company they founded...

Yesterday, it was reported that suppliers to Saab had petitioned a Swedish court to declare the struggling automaker’s latest owner, National Electric Vehicle Sweden (NEVS), bankrupt. According to the Associated Press, Labo Test, which supplies test equipment for car parts, said NEVS had...

Italy's Bertone, established in 1912 as a coachbuilder, has been hit hard by financial strife in the past decade, with the company forced to end its vehicle manufacturing operations following the financial crisis of 2008 and split off its Stile Bertone design house. Unfortunately, Stile Bertone has...

German boutique sports car maker Wiesmann, creator of the odd but iconic MF4 and MF5, has finally gone out of business after a drawn out insolvency. Last summer, Wiesmann filed for bankruptcy protection, despite having just released the M3 V-8-powered MF4-CS a few months earlier at the 2013 Geneva...

Bertone has designed some of history's most iconic supercars, but it may not survive much longer.

Fans of motorsport around the world have been experiencing low-level anxiety over the future of the Nürburgring for years now. In 2012, the track declared insolvency, and it looked like it might be shuttered, or worse, scrapped. But those fears may be resolved now that the German automotive...

A U.S.-based arm of Chinese supplier Wanxiang (Wanxiang America Corporation) was the successful bidder in an auction of the assets of bankrupt electric car startup Fisker Automotive. The winning bid has been valued at approximately $149.2 million, which includes $126.2 million of cash, $8 million...

You'd think a company's name and logo were among the standard items of any business buying up the assets of a bankrupt firm, but in the case of Fisker Automotive's long-running saga, that doesn't seem to apply. Whoever buys the company and its assets may not have access to the Fisker brand name...

Bankrupt automaker Fisker Automotive is urging courts to approve the sale of its assets to a Hong Kong company currently bidding on it, in the hope that it can prevent Chinese auto parts maker Wanxiang from intervening and buying up the assets before the sale can take place. According to Reuters...

The woes of Fisker Automotive, the electric car startup that filed for bankruptcy late last year after a series of insurmountable problems, don't look like stopping any time soon. Investor group Atlas Capital Management LP is suing Fisker co-founder Henrik Fisker as well as several former directors...

It looks like it isn’t the end of the road for niche German sports car manufacturer Wiesmann just yet. After declaring itself insolvent in August, Wiesmann has now confirmed that the reasons for its original insolvency filing no longer exist. Wiesmann hasn’t mentioned the reasons why it...