Skip to content

🚗 Your People Are Here. Get In.

The internet is full of car content. This is the community.

Cheers & Gears has been bringing enthusiasts together since 2001. Join the conversation, show off your garage, and find your people.

Saab Seeking Court Protection From Creditors

Featured Replies

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...

Latest News

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.

Account

Navigation

Search

Search

Configure browser push notifications

Chrome (Android)
  1. Tap the lock icon next to the address bar.
  2. Tap Permissions → Notifications.
  3. Adjust your preference.
Chrome (Desktop)
  1. Click the padlock icon in the address bar.
  2. Select Site settings.
  3. Find Notifications and adjust your preference.