The European Association of Suppliers asks Saab to accept bankruptcy

Financially speaking, this is the longest death throes we have ever witnessed from an automotive company. Saab has not been helped by anyone throwing in the towel in the last round, as it has been knocked out for several months now, closer to the canvas than to anything else.

The situation of the Swedish company in recent hours is increasingly desperate. While Victor Muller has been in the USA for days looking for new investors, the brand has once again suspended its operations and finds itself under much greater pressure.

The European Association of Suppliers (which represents its creditors) is calling on Saab to raise the white flag and finally file for bankruptcy, in order to secure the debts owed to suppliers and the temporary payment of its employees on behalf of the Swedish state.

With a runaway debt of some 100 million euros on top, sales that have not reached the level it had set itself, and production of very few units this year, it now seems that Saab really is reaching the end of the line, facing the barrier of bankruptcy.

Source | Just-auto