Saturday, August 27, 2011

Saab might file for bankruptcy, again

Reports in Europe say that Saab will once again be seeking court-order protection from creditors, the European equivalent of bankruptcy.

The reports did not say when this would happen. Saab's U.S. spokeswoman, Michele Tinson, told Automotive News in an e-mail that she could neither confirm nor deny the report.

Swedish Automobile rescued Saab from shutting down last year when then-owner General Motors entered bankruptcy protection. Saab has been struggling ever since to restart production and to pay employee wages and suppliers.

Read the rest of the article at Auto Week

No comments:

Post a Comment