bankruptcy

Following recent reports that Lotus was ending sponsorship of the Lotus F1 team and, of more concern, could possibly be put into administration by its new parent, Malaysian conglomerate DRB-Hicom, Lotus has gone on the defense with an extensive Facebook rant addressing many of the various...

In what is arguably the shortest corporate press release ever written, Swedish Automobile has announced it will change its name back to Spyker, pending approval from its shareholders, effective April 18. It’s unclear what, if anything, the move has to do with former subsidiary Saab’s...

Following yesterday’s news that Group Lotus was ending its sponsorship of the Lotus F1 team while leaving the team’s name unchanged, a new report suggests that the automaker’s troubles run far deeper and that its ambitious five-year sports car program could be on the skids...

Youngman has made a formal offer to acquire Saab's assets, and is prepared to spend an additional $1.8 billion to develop future models.

Riddled with debt, legendary Italian coachbuilder and design house Pininfarina has announced that it has reached a debt restructuring deal with its lenders that provides the firm with additional time to pay back its loans. Through a series of meetings with its lenders, Pininfarina has reached a new...

Sweden has repaid Saab's loan from the European Investment Bank (EIB), becoming the automaker's largest creditor in the process.

Last week we brought you the grim news that a prized collection of classic Saabs sitting in the official Saab museum in Trollhattan, Sweden, was going to be divvied up and sold to the highest bidder. The collection, which included some of the most important Saabs ever built, including the very...

Following the demise of Saab Automobile, its North American distribution company has been forced into liquidation.

Yesterday we brought you news that Chinese auto giant Youngman, one of the original bidders for Saab before it went bankrupt, was still interested in buying what’s left of the Swedish automaker. Now we have news that Turkish private-equity firm Brightwell is also interested in making a bid...

Sources close to Chinese company Youngman report that it will make one final attempt to purchase bankrupt automaker Saab.

General Motors may step in and honor warranty coverage on Saab vehicles, but only those sold before the transfer of the brand to Spyker in February of 2010.

Saab filed for bankruptcy just yesterday, and already the fallout is hitting owners: all warranties on new cars sold or leased are suspended, as are all claims currently in process on already-owned Saabs. The report, by way of Detroit News, cites Saab North America representative Michele Tinson...

It’s official. Saab, along with its Saab Powertrain and Saab Tools subsidiaries, has filed for bankruptcy with a Swedish court this morning. Following previous owner GM’s recommitment over the weekend to block any deal for the purchase of Saab, Chinese firm Youngman has finally thrown...

Saab miraculously managed to stave off bankruptcy yet again after receiving a last minute cash payment from Chinese investor Zhejian Youngman Lotus Automobile. The payment, believed to be around $5 million, will be used to cover immediate tax expenses, Swedish business daily Dagens Industri first...

Just when it seemed all hope of saving Saab from bankruptcy has failed, news of yet another potential Chinese savior has surfaced. This time it’s an unnamed Chinese bank that's interested in buying up a stake in Saab, with fellow Chinese firm Zhejiang Youngman Lotus Automobile also expected...

General Motors has confirmed that it will move to block the sale of Saab to Chinese companies Pang Da and Youngman.

General Motors, who still retains "preference shares" in Saab, may not approve of a sale to Chinese partners Pang Da and Youngman

Saab’s shaky recovery has come up against another major hurdle, with the automaker’s head of manufacturing and purchasing, Gunnar Brunius, calling it quits after 30 years on the job. While it’s unclear what the main reason was for Brunius’ departure, we can confirm that he...

Late last week the parent company of Saab, Swedish Automobile, agreed to sell 100 percent of the struggling automaker to Chinese firms Panga Da and Youngman for approximately $142 million. Where just a few months ago those same Chinese firms were willing to pay $350 million for just 53 percent of...

Swedish Automobile has confirmed today that it has made an 11th-hour deal with Chinese firms Pang Da and Youngman for the sale and purchase of 100 percent of the shares in struggling automaker Saab for 100 million euros (approximately $142 million). So far only a memorandum of understanding has...