Cars
As the days go by without a viable solution to Saab's worsening financial problems, the closer the company gets to its breaking point.
- Saab Files For Bankruptcy After All Rescue Plans Fail, This Could Be The End
It is sad news for the automotive world to learn of the demise of a company. Unfortunately, Monday December 19, will mark the end of the road for Swedish carmaker Saab – and this time it looks like it is final. Earlier this morning, Swedish Automotive...
- Court-appointed Administrator Wants Saab Restructuring Process Terminated
Less than 24 hours after General Motors stated once again, that it will veto any plan that includes a Chinese company acquiring a stake in Saab, the Swedish carmaker received more bad news. Guy Lofalk, the court-appointed administrator who oversees Saab’s...
- Swedish Court Rejects Saab's Reorganization Plan, Is This The End?
The (digital) ink on our story about Saab North America's hopes and dreams had barely dried when news came in that a Swedish court denied Saab Automobile's voluntary reorganization application that would have protected the company from its creditors,...
- Saab Seeks Court Protection From Creditors, Formulates Reorganization Plan
The way events were unfolding these past few weeks, and from the moment its CEO admitted reorganization was an option, it was inevitable: Saab Automotive NV, which includes Saab Automobile AB, Saab Automobile Powertrain AB and Saab Automobile Tolls AB,...
- Saab: Victor Muller Is Hopeful Of Quick Solution, But Reorganization Is Also On The Table
For the second time in two years, Saab is perilously close to the edge of the cliff. But it may be rescued, once again, at the 11th hour: according to a company source close to negotiations with Chinese investors, Saab Automotive executives are “very...
Cars
Saab Denies Reports that it is Seeking Court Protection - For Now
As the days go by without a viable solution to Saab's worsening financial problems, the closer the company gets to its breaking point.
Today, Sweden's public radio (Sveriges Radio) ran a report citing unnamed sources that said Saab's parent company Dutch group Swedish Automobile NV (SWAN) was preparing to apply for court protection from its creditors. If that were to happen, Saab would be placed in a process of corporate restructuring similar to the one it entered in 2009 while GM was in control.
Later in the day, Mats Fägerhag, head of technical development at Swedish Automobile NV told the radio station, "We have not taken any decision to apply for reorganization".
Swedish Automobile NV issued a rather vague statement saying the company is looking to secure funds and is evaluating "all available options" to "secure the continuity of Saab".
Read more »- Saab Files For Bankruptcy After All Rescue Plans Fail, This Could Be The End
It is sad news for the automotive world to learn of the demise of a company. Unfortunately, Monday December 19, will mark the end of the road for Swedish carmaker Saab – and this time it looks like it is final. Earlier this morning, Swedish Automotive...
- Court-appointed Administrator Wants Saab Restructuring Process Terminated
Less than 24 hours after General Motors stated once again, that it will veto any plan that includes a Chinese company acquiring a stake in Saab, the Swedish carmaker received more bad news. Guy Lofalk, the court-appointed administrator who oversees Saab’s...
- Swedish Court Rejects Saab's Reorganization Plan, Is This The End?
The (digital) ink on our story about Saab North America's hopes and dreams had barely dried when news came in that a Swedish court denied Saab Automobile's voluntary reorganization application that would have protected the company from its creditors,...
- Saab Seeks Court Protection From Creditors, Formulates Reorganization Plan
The way events were unfolding these past few weeks, and from the moment its CEO admitted reorganization was an option, it was inevitable: Saab Automotive NV, which includes Saab Automobile AB, Saab Automobile Powertrain AB and Saab Automobile Tolls AB,...
- Saab: Victor Muller Is Hopeful Of Quick Solution, But Reorganization Is Also On The Table
For the second time in two years, Saab is perilously close to the edge of the cliff. But it may be rescued, once again, at the 11th hour: according to a company source close to negotiations with Chinese investors, Saab Automotive executives are “very...