Saab GB goes into administration

30 November 2011

BUSINESS-US-GM-SAABSaab GB and Saab City (that'd be the carmaker’s dealer group) have gone into voluntary administration.

David Dunckley and Daniel Taylor of Grant Thornton have been appointed joint administrators of the beleaguered arms of the company.

Of course, this has been on the cards and this appointment of administrators follows well publicised problems across the Saab group. Swan, the main operating company within the group, won protection from creditors from the Swedish courts in September.

“The administration is a consequence of the problems of the holding company in securing finance as well as stoppages in production. It is clear that the key to ensuring a future for Saab is the financial restructuring of the wider Saab Group, whose directors we understand are currently in negotiation with potential Chinese automotive concerns,” said Grant Thornton’s Taylor.

“Further announcements will follow as soon as possible. The Saab City sites will continue to trade normally for the time being whilst we review the operations, prospects, and options. Unfortunately we cannot rule out the possibility of redundancies.”

Saab said, in a statement: “The board of Saab GB is of the opinion that administration gives the company and creditors the necessary legal protection until it has secured the required funding for the company. The appointment of the administrator is effected by the directors of Saab GB.”

Saab GB has notified its customers through its website and has set up a customer hotline on 0845 300 9593.

TOPICS:   Motoring   Travel   High Street News


    Good Im glad Saab is dead having had a 2008 93 TTid - Ok its fast very fast for a 1.9 diesel but at £27000 K its the worst f^cking POS I have ever had in terms of reliability - and having to deal with Vauxhell idiots - never F ing again - DO not buy one of these unless you like dealing with numpties every time the thing breaks - and trust me it will.
  • Andy
    Does this mean that SAABs will come with a CE label and 'Made In China' sticker? And the gear knob falls off....oh! wait a min, sorry that happens already. On the bright side the price should come down as most of the car will be ABS plastic!
  • Kasey P.
    Possibly a single from the most used seats inside your household may be the kitchen bar stool. When one particular thinks of this item, they might envision a child sitting on it carrying out homework while mom or dad prepare dinner.

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