SAAB Saga - final days approaching?

The end of SAAB could now be just a few days away following a move by the company's administrator, Guy Lofalk.

Mr Lofalk has informed SAAB's parent company, Swedish Automobile that he will apply for termination of the voluntary reorganization of Saab Automobile AB (Saab Automobile) and two subsidiaries with the District Court in Vänersborg, Sweden. 

Saab Automobile and its creditors have approximately five to six days to submit their view to the District Court before the Court takes a final decision about termination of the reorganization. The management of Saab Automobile has said it will consider future steps and continues the current discussions with Youngman, the Chinese company it is currently in talks with, about the necessary funding to pay the wages and be able to continue the voluntary reorganization.

SAAB has not built a car since April, when unpaid suppliers began to withhold parts.


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