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Aston Martin on the Rocks as Kuwaiti Owner Flounders

Posted in Aston Martin, auto industry, Exotic Cars, Expensive Cars, Fast Cars, Foreign Cars, Newsworthy by Alex Kierstein | September 29th, 2009 | Leave a Reply |

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Apparently Kuwaiti oil wealth isn’t enough to prop up the ailing luxury marque Aston Martin, as reports are swirling that the fund that owns half of it, Investment Dar of Kuwait, is having some trouble with creditors. In fact, it’s signed a deal with them staving off their claims while they buy some more time to flee the country come up with the dough. The Warwickshire automaker has already let go 600 people, or a third of its workforce, last December. Unless Investment Dar comes up with some cash, there might be further trouble for Aston.

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Which is all very interesting, because since Ford sold the company to ID in 2007, Aston’s at least been making the news a lot (whether that’s good or bad, I’ll leave up to you). The agreement with creditors gives the fund until the end of the year to figure something out, and if they can’t, Aston might be up on the block again soon.

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