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:
- Spyker says Saab’s future is uncertain without new investment
- Spyker: Saab not on the verge of collapse, will be profitable in 2012
- Saab stops production once again due to supplier issues
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