Enter Honest John's Kit Competition An awesome prize is up for grabs every week | No thanks

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.

Comments

Add a comment

 

Ask Honest John

Value my car

Amount to borrow
Sorry. The minimum loan amount is £1000
To pay back over

My credit score

Best available rate 9.20%

Total repayment £9,304.93

Total cost of credit £1,804.93

£155.08

60 monthly payments

Apply now

Representative example

The Representative APR is 13.2% (fixed) so if you borrow £7,500 over 4 years at a rate of 13.2% p.a (fixed) you will repay £199.21 per month and repay £9562.20 in total.