Saab Seeks New Funding to Stave Off Bankruptcy, Again

Saab Seeks New Funding to Stave Off Bankruptcy, Again

Saab may be on the brink of bankruptcy, again.

But that’s not what company execs are claiming, instead choosing to focus on a possible positive future for the brand.

Saab’s current owners, National Electric Vehicle Sweden (NEVS) has announced it is currently in talks with several potential partners as it aims to secure new funding to restart production.

In May NEVS halted assembly of the 9-3 sedan after just five months back in production.

The company was facing a bankruptcy petition by one of its suppliers, Labo Test, which was looking for payment of 150,000 kronor (roughly $22,000). NEVS says the petition has been withdrawn, however, it’s believed Saab still owes several million kronor to as many as 91 other suppliers.

[Source: Automotive News]

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  • Rickers

    Poor Saab… they should just give up.

  • SAABfan4Life

    SAAB has gone through a lot of turmoil lately as we all have witnessed. I just don’t get why the Swedish government does not intervene and give a lending hand to keep these people working just like the US government did for GM & Chrysler. They have to feed them and give them health insurance anyways, might as well bail the company out and let them do what they do best….Making Cars. Then they will pay it back….How about that for an idea 🙂