bankrupt

Swedish Government Rejects Saab’s Request For Bankruptcy Protection

Swedish Government Rejects Saab’s Request For Bankruptcy Protection
Share this Article
It was just yesterday when we reported that Saab was seeking government protection against bankruptcy, but now it seems like this step has failed. A Swedish court has rejected a protection and voluntary reorganization plan, citing that it does not believe any steps the automaker makes will help it to recover. Saab is “disappointed” with… Continue Reading...

Norwegian EV Producer Think Goes Bankrupt For The Fourth Time

1
Norwegian EV Producer Think Goes Bankrupt For The Fourth Time
Share this Article
Evidently, the third time wasn’t the charm for Think, the Norwegian manufacturer of small electric vehicles. The company has gone bust for the fourth time in its 20 year history. Think attempted to restructure, but was ultimately not successful. “We needed some additional funding and although we had interested investors they were not able to… Continue Reading...

Fiat Has Option To Increase Chrysler Stake 70 Percent

1
Fiat Has Option To Increase Chrysler Stake 70 Percent
Share this Article
Chrysler filed documents with the Security and Exchange Commission that revealed that parent company Fiat has a one year option to increase its stake in the American automaker to as much as 70 percent. The increase is contingent on Chrysler repaying its government loans, and the automaker will be issuing new debt in a bid to allow… Continue Reading...

Bristol Cars Facing Extinction as Funds Run Out

5
Bristol Cars Facing Extinction as Funds Run Out
Share this Article
Eccentric British car firm Bristol has run its business unlike any other car company. They have no dealer network, so all the sales are handled by the factory owned store in Kensington, near London, U.K. They also don’t give out cars to journalists for reviews, stating their customers know what they are buying and that… Continue Reading...

General Motors Agrees to Sell Saturn Brand to Penske

1
General Motors Agrees to Sell Saturn Brand to Penske
Share this Article
General Motors has reached an agreement with the Penske Automotive Group on the sale of its Saturn brand. An official announcement is expected to be made by both parties later today. The Penske Automotive Group was thought to be one of the front-runners in the bidding war, which also reportedly included Nissan/Renault, Mitsubishi and investment… Continue Reading...

General Motors Bankruptcy Official

General Motors Bankruptcy Official
Share this Article
While President Obama and General Motors CEO Fritz Henderson are both expected to hold press conferences today, officially GM has already filed for Chapter 11 Bankruptcy Protection. Once the world’s largest automaker and a symbol of the success of free market economics, GM is now a symbol of failure. In the 1950s it employed over… Continue Reading...
Previous
WP Twitter Auto Publish Powered By : XYZScripts.com