bankruptcy

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...

Saab owner National Electric Vehicle Sweden recently ran out of cash but on Friday was thrown a lifeline by a Swedish court, which has given the struggling firm time to restructure and source new investment. During the restructure, NEVS parent company National Modern Energy Holdings will provide it...

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...

The American arm of Chinese auto parts giant Wanxiang recently bought up the assets of bankrupt electric car startup Fisker Automotive and has now confirmed by way of a website that it’s using those assets for a new company called The New Fisker Automotive. It appears Wanxiang was also able...

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...

Electric car startup Fisker Automotive has finally filed for Chapter 11 bankruptcy, more than one year since it last built one its $103,000 Karma extended-range electric sedans. It means Fisker will fail to pay its remaining portion of a $192 million loan awarded to it back in 2010 under the...

The European car market continues to decline as the economies of most of its nations spiral downward, and the toll on the upper end of the custom and tuner segment continues to rise. Porsche-specific tuner companies 9ff and speedART have both filed for insolvency protection in Germany this month...

If you're a fan of visually unappealing yet wildly potent automobiles, the Gumpert Apollo is probably your desktop background right now. Founded in 2004 by ex-Audi Sport director Roland Gumpert, this manufacturer is best known for production of the Apollo. A rather unique machine, the Apollo is...

Luxury sports car maker Wiesmann has filed for insolvency in its native Germany, the latest niche automaker to be hit by the downturn of the European new car market. Wiesmann is known for its retro-styled roadsters, typically using BMW drivetrains, and the company says it has sold more than 1,600...

Detroit, once America’s fourth biggest city and still the heart of the country’s auto industry, filed for Chapter 9 bankruptcy protection in a federal court late on Thursday. With a current population of approximately 700,000, it means Detroit is now the biggest municipal to ever file...

Spyker will appeal last week’s court decision to dismiss the Dutch sports car manufacturer's $3 billion lawsuit originally filed against General Motors almost a year ago. In August of 2012, Spyker filed the $3 billion lawsuit against General Motors Company [NYSE:GM] in a U.S. District Court...