bankruptcy

The memorandum of understanding between Saab and it's potential Chinese buyers expires today, but talks will continue between all parties.

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...

Saab has taken one step closer towards what’s shaping up to be a possible bankruptcy with news coming out over the weekend that the struggling Swedish automaker has terminated its tentative alliance deals with Chinese firms Pang Da and Youngman. The decision was made by Saab’s parent...

Guy Lofalk, the court-appointed administrator of Saab’s reorganization process, has revealed that he’s sent a letter to the Swedish court on Thursday requesting that the whole process be terminated. The revelation comes less than 24 hours after Saab announced it would be receiving some...

Saab has announced today that it has received a commitment from American private equity firm North Street Capital for a cash payment before the October 22 deadline to pay off part of its bridge loans, once again helping the struggling automaker stave off bankruptcy. The cash will be awarded to Saab...

Update: Earlier this week news broke that Saab's Chinese partners would be blocked from their bid to give the Swedish automaker a much-need cash infusion. Today, Saab has responded with a statement that says the reports were misinformed, and that it has received a first payment by China's Youngman...

It wasn't so long ago that talk of Spyker buying, and thereby saving, Saab was the hot news. Since then, the Dutch supercar company has reorganized things, keeping Saab and Spyker separate, while setting the whole thing up under the umbrella of Swedish Automobile. Things haven't gone all that well...

Saab is in trouble. That's been clear for a long while now. Just how much trouble has come into focus in the last few weeks. Now, Saab has decided to license its core next-generation sedan architecture to a "special purpose" vehicle company called Swedish Automobile coöperatief U.A. (SPV). The...

After months of failed funding negations and ceased production, Saab, along with its Saab Powertrain and Saab Tools subsidiaries, announced this week that it had filed for voluntary bankruptcy protection with the District Court in Vanersborg, Sweden. However, the court has rejected Saab’s...

Saab has taken yet another step, this time a major one, towards what’s shaping up to be an inevitable bankruptcy, with news coming out today that the struggling Swedish automaker posted a $322 million loss for the first six months of 2011. The latest figure is four times the amount Saab lost...

Saab is said to be seeking a court order to protect it from creditors, and will likely enter into a reorganizational bankruptcy according to reports from Swedish public radio.

Despite its best efforts to raise funds, the death knell is ringing for Saab, with news coming out today that Sweden's Debt Enforcement Agency has commenced collection proceeding against the automaker following Tuesday’s deadline for payments to suppliers. The agency is in the process of...

Saab has delayed payments to white-collar employees, sparking rumors that company is in trouble again.

Saab looks to be almost back in business, with the automaker announcing this week the finalization of yet another cash injection deal as well as a tentative August date for the restart of production at its main plant in Trollhattan, Sweden. Saab has announced that it has obtained final approval...

Yesterday we reported that Saab would receive $18.4 million by the end of this week from a mystery Chinese firm that ordered a total of 582 of its cars, allowing the financially stricken automaker to pay its employees’ wages and stave off a potential bankruptcy. Today, we have news that Saab...

Late last week it was revealed that Saab couldn’t afford to pay its workers’ salaries and without any hope of a sudden inflow of cash would be forced into bankruptcy. Now, just several days on since that grim report it has been revealed that yet another Chinese party, this time...

Saab’s recent announcements of partnerships with Chinese firms Zhejian Youngman Lotus Automobile and Pang Da Automobile has done little for its money woes, with the automaker announcing this week in a formal statement that it won’t be able to pay its employees’ wages due to a lack...