Saab Bankrupt
Saab has produced nothing since April and has lurched from crisis to crisis ever since. Victor Muller has pulled every trick he knows – and some he didn’t know he knew – to keep Saab afloat, but it looks like it’s all for nothing.
Saab shares have been suspended this morning and Saab has filed for bankruptcy. The root of the death of Saab is doubtless GM’s refusal to countenance any involvement with Chinese companies in Saab. Muller’s only lifeline for some time has been Chinese interest in Saab, but GM refuse to countenance that to protect to protect their technology, which underpins Saab’s cars.
Saab wanted to change administrators (of their court protection) last week, but their chosen appointee refused the task and the Swedish Court refused to allow it, despite current administrator Guy Lofalk’s wish to be relieved of his duties. But that all seems academic now with the death knell finally ringing for Saab, despite Muller’s valiant efforts
There will be much more on this story today, so we’ll update here. Check back later for more details.
Pekka Vallittu says
It is obvious that Saab will show it´s great and supporting phoenix wings after the bankruptcy. It is only question of time. This will be now a real new start for totally independent Saab. This kind of cases have happened in the world in different fields of life, e.g. in the academic life by re-establishment of new universities based on those with long academic history after moving universities to other cites.