Lisa Airplanes - manufacturer of the Akoya amphibious light sport aircraft - has gone into receivership following a request from the company's founders.
Chambery, France-based Lisa was set up in 2004 with the aim to develop a "revolutionary" light aircraft aimed at the private flyer and leisure markets. Since 2005, about 80% of the company has been funded privately - by business angels and startup and investment funds.
Recently, Lisa sought investment to fund its long-term commercial development. The "selected investors were not able to fulfil their commitment" it says, "and the historical shareholders could not secure the financial plan".
Therefore on 30 July, Lisa says the founders decided to place the company into receivership "to protect its future". "This situation has no impact on our clients' deposits," it adds.
Lisa hopes to emerge from receivership in the next six months with enough funding to launch into the US market. "The great response of the American market during the first presentation of the Akoya at the Oshkosh show last month [coupled with the] extraordinary performance of the aircraft throughout its year of flight testing, should create investment opportunities," it says.