Filed under: Government/Legal, Saab, Earnings/Financials
It would be an understatement of biblical proportions to say that Saab is having a bad year. Near daily accounts of the automaker's financial issues roll in like a rash of plagues, while very few vehicle are rolling out of the assembly plant. Now comes word that a consortium of businesses are preparing to turn the screws and, quite possibly, push the Swedish automaker into bankruptcy.
According to The Truth About Cars, a group of 48 business entities have joined up with the Swedish Collections Agency known as the Kronofogden. Owed debts among those joining together range from $198 up to $774,083. The total amount owed to all 48 in the consortium rings the registers at $3,672,944.
That figure is solely comprised of those appealing to Kronofogden for assistance. Others are waiting on payment from Saab, and that $3.6 million is only a fraction of the automaker's tota debt load. A Chinese cash infusion can't arrive fast enough at this point.
Consortium of businesses threaten to push Saab into bankruptcy originally appeared on Autoblog on Thu, 16 Jun 2011 16:30:00 EST. Please see our terms for use of feeds.
Permalink | Email this | CommentsSource: http://www.autoblog.com/2011/06/16/consortium-of-businesses-threaten-to-push-saab-into-bankruptcy/
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