Jump to content
News
Reviews
Discussons
Activity
Create New...
Close

Saab Seeking Court Protection From Creditors

William Maley

By William Maley
in SAAB / NEVS

 Share

Recommended Posts

William Maley Enthusiast

William Maley

Posted
Posted

Saab Seeking Court Protection From Creditors

William Maley - Editor/Reporter - CheersandGears.com

August 26, 2011

post-10485-0-72514300-1314406057.png

Related: SAAB Can't Pay Wages for August

Swedish automaker Saab N.V. is in a world of hurt. The company is desperate for money to restart production so they can make money. Suppliers and workers are angered and threatening to take this matter to the court to declare the company bankrupt.

Saab knows this well and according to a report by public radio, several different sources say the company would apply for court protection from creditors. Sources don't say when Saab would make the move. The protection would put Saab into a process of corporate restructuring.

Saab declined to comment on the public radio report. Saab spokeswoman Gunilla Gustavs said the company continued to work on raising the necessary funds.

Source: Reuters

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
 Share
Go to topic listing


×
×
  • Create New...

Hey there, we noticed you're using an ad-blocker. We're a small site that is supported by ads or subscriptions. We rely on these to pay for server costs and vehicle reviews.  Please consider whitelisting us in your ad-blocker, or if you really like what you see, you can pick up one of our subscriptions for just $1.75 a month or $15 a year. It may not seem like a lot, but it goes a long way to help support real, honest content, that isn't generated by an AI bot.

See you out there.

Drew
Editor-in-Chief

I've whitelisted
Continue without support

Write what you are looking for and press enter or click the search icon to begin your search