We may forget that what is happening in Sweden also affects other parts of the world and so Saab GB which employs 55 people has put itself into voluntary administration.
The Swedish administrator want to apply to finish the protection the Swedish company has from bankruptcy, this is to happen the next week. If this is successful and new finance cannot be raised, this may Saab operation, so until finance is raised in the Sweden, the UK administration looks after what is happening back in the UK.
Saab GB is responsible for UK dealerships as well as car part distribution. As this continues warranties are still being honoured and part supplies are still in place, with supplies still being delivered from Sweden.
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We are back in the same place again with Saab where has been reported that 600m euros need to be found within days to avoid bankruptcy.
Protection from such a fate had been sanctioned back in September, but it now looks like that protection is being challenged and unless money is raised or at least some guarantees, it may be that previous court ruling will be changed and Saab will see its last days in motor production.
There are discussions regarding loans and ownership, which have been fought by General Motors in the past, as previous owners they still licence certain technology, specifically at Zhejiang Youngman wanting to own some of Saab, but it looks that if loans are secured from China, agreement form GM may not be needed.
Once again we wait to see if this great Swedish car manufacturer will survive difficult times and if it does, will it keeps its roots.
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