Lightyear Goes Back In Business After Restructuring Caused By Bankruptcy

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The Dutch solar car company will continue to develop its Lightyear 2 model.

Now however, the company says it has raised enough capital to continue working on its second model, the much more affordable"I am very happy that we managed to complete the restructuring, which we believe is in the interest of the sustainable success of Lightyear, taking into account the interests of its stakeholders,” said Lex Hoefsloot, CEO and co-founder. “The whole team and many of our stakeholders have worked hard to make this possible. I would like to explicitly thank all of them.

“We have tried to represent the interests of employees from the Netherlands and abroad as well as possible,” said bankruptcy administrator Reinoud van Oeijen. “At the same time, we also tried to limit the damage to the creditors as much as possible. This way, there was a chance of a restart.

 

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