bankruptcy

If you thought you’d missed your chance to pick up a new Saab before the now-semi-defunct brand was gone for good, despair not: additional units, leftover from port inventory will be heading to dealer auction next week. According to Saab World (via Jalopnik), the first 300 of 900 remaining...

Saab is dead; long live Saab. If that sounds contradictory, it isn’t, since the quirky-but-competent brand most of us have come to know and love is gone. The Phoenix (no pun intended) that will rise from the ashes is an entirely new entity, purchased by National Electric Vehicle Sweden AB...

While automaker Saab and its North American arm Saab Cars North America may be bankrupt, the legacy of the Swedish brand lives on in the thousands of Saab cars scattered all over the world. To ensure owners, some of which may have only purchased their Saabs this year, are looked after, a separate...

Despite Saab having several suitors interested in purchasing the brand, paying off its debts and restarting production, no deal could ever be finalized and the automaker finally declared bankruptcy last December. The reason no deal could be finalized was because of GM’s refusal to allow any...

British engineering firm and race car constructor Lola, established in 1958 and based in Huntingdon, England, has announced today that it is suffering from severe cashflow problems and has appointed an administrator. The company, which includes a separate composites division and also works with...

With Saab officially bankrupt and receivers now looking for bids on any remaining assets, activity at the automaker’s main facilities in Sweden is winding down and the last orders are being completed. The very last Saab 9-3, a 2012 9-3 Griffin Aero sedan finished in white like the one...

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.

Sources close to the situation report that Saab's receivers are not interested in entertaining bids for the operation, preferring instead to sell off the remaining pieces.

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...

In what’s sure to be both fulfilling and sad news for Saab fans all around the world, a Swedish law firm involved in the liquidation of Saab following last month’s bankruptcy announcement has posted for sale a list of more than 100 classic models belonging to the Saab Heritage Museum in...

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...