Saab’s bankruptcy has hit parent company Swedish Automobile (Swan) hard. Expenses related to the bankruptcy have left Swan with liquidity problems, and its now faced with the prospects of selling its supercar brand, Spyker, or shuttering the operation entirely.
As Left Lane News tells us, the deal to sell Spyker to Connecticut-based North Street Capital has fallen apart, leaving Swan scrambling to find a new buyer. Swan CEO Victor Muller says that a new deal to sell Spyker is “in progress,” but the departure of three members of Swan’s supervisory board seems to indicate otherwise.
All three stepped down due to “differences of opinion” with Muller on funding alternatives for Swan, as well as the future of both Swan and Spyker. The group’s departure leaves only Muller on the supervisory board, and Swan’s CEO insists that all options for Spyker, including obtaining new funding, remain open.
Given the difficulty of finding reliable funding for mainstream brand Saab, it seems highly unlikely that anyone would sink money into a relatively obscure boutique brand like Spyker. Unless the supercar builder is sold and sold quickly, it’s fate will likely be the same as Saab’s.