Featured Failure
DeLorean Motor Company
The DeLorean Motor Company built one car, the stainless-steel, gull-winged DMC-12, in a British-government-funded factory in Belfast. It was expensive (around $25,000, more than twice the average car), underpowered, and plagued by unreliable electronics, and it launched straight into the 1980-82 recession. Too few people bought it; by the end of 1981 only 3,000 had sold. The company went into receivership in February 1982, and the arrest of founder John DeLorean that October, on charges he was later acquitted of, finished off a firm that was already collapsing.
- Ended
- 1982
- Raised
- Not recorded
- Layer
- Execution