Saab in Trouble, Wants to Seek Protection From Creditors

Saab in trouble, wants to seek protection from creditors

Problematic Swedish car manufacturer Saab is going to ask for court protection from creditors. Informed the Swedish Radio, referring to several sources. Saab to this information, declined to comment, Reuters.

The radio station did not specify when the request should be for protection from creditors submitted. A spokesman for Saab Gunilla Gustavsová said that the company continues to work on obtaining the necessary funds.

Saab Production was halted in April because its suppliers cut off supplies because of unpaid bills. The company has repeatedly postponed the renewal of production. With production running the latest information first counted at the end of August.
Out of salaries for employees

Swedish authorities last week began to confiscate the property of Saab. The aim is to raise money to pay off debts to suppliers Saab and tax administration, to which creditors transferred their claims. Recently, Saab also struggling with a lack of money for employee wages.

The owner is a Dutch company Saab Automobile Swedish. This is the beginning of last year, agreed with U.S. automaker General Motors (GM) to buy from her loss Saab for 400 million dollars (nearly seven billion dollars). The agreement saved the Swedish brand before phasing out activities decided by the GM.

Source – Novinky.cz