Things are apparently getting nasty inside Saab as the company continues to scramble for a route to viability. Autocar reports that Guy Lofalk, the court-appointed administrator placed in charge of the company's reorganization affairs, recently applied to terminate the automaker's reorganization process. That move would effectively strip Saab of the protections it enjoys from its creditors while it seeks further investment from outside sources, which means it wouldn't be long before the company found itself snuffed out. But CEO Victor Muller has vowed that Saab will continue to fight for survival, and the automaker has reportedly moved to have Lofalk ousted from the process as a result of his actions.

How's that for some corporate drama?

Muller also said that he believes that Lofalk's talks with Pang Da and Youngman may have lead the two Chinese automakers to consider a full takeover of the Swedish brand instead of merely buying a 50-percent stake in the company. The two companies reportedly made a takeover offer today, but Muller says that Lofalk has overstepped his authority. Saab has since outright rejected the takeover offer, and both Pang Da and Youngman have backed away from the automaker altogether. That would appear to leave Saab with little more than a small investment from North Street Capital to keep it afloat.


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  • 26 Comments
      nattomethane
      • 3 Years Ago
      Saab is in the oxygen tent counting vultures at window..while now dr. treats her as organ donor. Tooooo bad. AB is it possible a brief chrono hist. of how the got to this point? I have the feeling that too much fast take over - sell game had some impact on it. thx.
      Bryan Lund
      • 3 Years Ago
      Is it just me or what was EVER very cool about Saabs, anyway? I mean, we've already got Volvo for weird Swedish car brands, who ever imagined TWO SWEDISH CAR BRANDS WERE EVER GOOD ENOUGH TO stay on the worldwide automotive market? Frankly, I don't believe in Saab therefore I look at this as just another automotive story in a heap of others that fall into the Kardashian file:in other words, the 86 files. Get it over with Saab and quit withering on the vine...and...die. Insert Dr.Evil with the backwards little pinky reaching up to pick some pepperoni from between his teeth.
      eat 2 compete
      • 3 Years Ago
      Sabb please die already. I'm tired of hearing about you!
      Basil Exposition
      • 3 Years Ago
      Liquidation is inevitable - anyone who says otherwise is delusional. With that said, I have to agree with Lofalk here. It is not fair to suspend existing creditors' rights while the company awards first position on it's assets to a new creditor. First position should go to existing creditors.
      FrankO
      • 3 Years Ago
      GM made Saabs product line incredibly better than it had EVER been. But in the end they saddled Saab with debt that ensured their demise. On the other end Saabs typical customer is either cheep, like my mother still driving her 99 9000 Wagon, or has moved on to becoming a Toyota Prius driver. It's just the truth. Personally I'm glad I got one of the last 9 3 Aero Convertibles with the Turbo 6 cylinder.
        kevsflanagan
        • 3 Years Ago
        @FrankO
        I work at a Saab dealership. I see plent of 04-05 Saabs in daily with issues from major to minor. GM sadly took Saab and made it into a regular brand. No more hatch back, no more coupe hatch either, just sedans, verts and their version of a wagon a Sport Combi. GM should of stuck with what was working for Saab. Hatchbacks now are the hottest things in the market if you will. Saab if they had stayed the course could of been on top of that what with their Viggen line and all. A shame since the way its looking we won't see a Saab Renaissance any time soon :(
      jbm0866
      • 3 Years Ago
      Everyone seems baffled by the fact that cash rich Chinese companies won't invest in a known entity like Saab....the answer is in this article. Chinese companies won't invest unless they get the full engineering/intellectual rights as well. Good for Muller not throwing in the towel so easily..
      kevsflanagan
      • 3 Years Ago
      That article read like some form of business drama tv show. The writing on the wall sadly is coming into focus and it doesnt seem to be saying "Brighter Days Ahead". :(
      stevelaughten
      • 3 Years Ago
      It's over. Sorry to see them falter, Saab took their eye off the business when they moved to Atlanta from Connecticut. Then GM really screwed the pooch and tried to badge engineer Saab with another small quirky brand-Subaru. If it wasn't for the Outback, Subaru would have been in the same situation. Small volume, low profit, players are going to start falling by the wayside. Looks like Saab is first.
        tinted up
        • 3 Years Ago
        @stevelaughten
        Small volume doesn't always mean low profit. With Saab however they over produced their vehicles and slashed all margins at the dealerships to move metal. They should have locked horns one niche at a time while keeping Saab customers faithful. Can you name one vehicle they make that is absolutely a must buy? Sure the 9-5 is cool but it was too little too late and wasn't a halo car they needed to increase the prestige of the brand. That being said there are deals to be had on used Slaabs, as long as you have some mechanical intuition of course... I am not going to argue with Saabophiles about shop bills but their parts are expensive and increasingly scarce.
      budwsr25
      • 3 Years Ago
      In other words Spyker should ask GM for a bailout.
        • 3 Years Ago
        @budwsr25
        [blocked]
      stevenh
      • 3 Years Ago
      SAAB = Swedish Automobile Always Bankrupt :)
      Chris
      • 3 Years Ago
      I've been rooting for Saab since the beginning but it looks like it's time to give up. They've got $96 million to run the entire company yet it took Hyundai half of that just to develop an engine...they're done.
      • 3 Years Ago
      [blocked]
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