Saab GB goes into administration
Saab 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.