Saab owes tens of millions to suppliers

Posted: Apr 08, 2011
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Saab

Saab

If you’ve been following news about Saab recently, you’ve probably figured out that the company is in some serious trouble. On March 30, Saab said that it faced a short production stop after “certain suppliers halted supplies to Saab Automobile pending discussions about payments and supply terms.”

That news was followed up with the following headlines:

Those type of headlines are obviously bad for a company looking for additional investment. It is now reported that Saab has tens of millions of crowns in unpaid bills, according to the head of a Swedish suppliers organization said.

“I don’t know how much it is in total, but we are talking about tens of millions [of crowns],” Svenake Berglie, CEO of the FKG suppliers’ sector association, told Reuters.

Saab, which wasn’t available for comment, said that it is holding talks with suppliers to sort out a liquidity squeeze that has disrupted production.

- By: Omar Rana

Source: Automotive News


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  • Dean

    It is time to lay down and die Saab!

  • JTP

    And by tens of millions you mean tens of millions of Swedish Crowns, or around $4.7 million. Try to get the headline right guys. Saab has many options, they’re just making sure they choose the lowest interest/best one for their long term interests. (GEM funds, EIB loan restructuring, external investors like Vladimir Antonov, etc).

  • JTP

    And by tens of millions you mean tens of millions of Swedish Crowns, or around $4.7 million. Try to get the headline right guys. Saab has many options, they’re just making sure they choose the lowest interest/best one for their long term interests. (GEM funds, EIB loan restructuring, external investors like Vladimir Antonov, etc).

  • Ray (Atlanta)

    Perhaps if the worldwide media would give Saab some positive press on occasion, they might have a fighting chance. But from what I can tell, most media sources seem gleeful to report only the negative about Saab. I suppose they are OK with a world full of nothing but cookie-cutter mass market cars from the big three out of Detroit. Me? I’m glad that I’ll be driving home in my 2010 Saab 9-3 tonight and hold out hope that I’ll be able to keep driving Saabs for many years to come.