Swedish Automobile just can't seem to catch a break. Its main brand, Saab, has received government protection from creditors, looked for loans and even secured a tentative deal with Chinese automakers, but even if it manages sell the Griffin marque, Swedish Automobile may still end up getting liquidated.
Bloomberg reports that Saab parent Swedish Automobile's many dealings would raise 132 million euros ($181 million U.S.) – if everything goes according to plan. That's a big if, and it still doesn't outweigh the 136.5 million euros ($188M) that Swedish Automobile reportedly owes its creditors. According to Bloomberg, that could mean that the company may liquidate regardless of whether or not the sale to Zhejiang Youngman Lotus Automobile and Pang Da Automobile Trade Co. goes through.

According to the report, Swedish Automobile could get through the sale without liquidation if it can wrap up the sale of Spyker. Private equity firm North Street Capital LP has tentatively agreed to purchase Spyker for 32 million euros ($43 million U.S.). That sounds like a done deal, but given the company's recent fortunes, we wouldn't necessarily count on all going according to plan.


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  • 23 Comments
      kevsflanagan
      • 3 Years Ago
      I swear Saab is the legit mythical cat of the automobile world. Just when you think its dead it comes back. Sadly I think its on its 9th life and this is it. Even if the sale goes through and somehow it stays afloat there is the legit threat of GM nixing supplying Saab with any of its technology and the 9-4X. Its one of those Win-Lose situations, yes your still alive but you have no food. I know I'm dreaming but I'd still love if Christian VonKoenigsegg would sweep in at the 11th hour and say "I'll fund you!" with a big giant S on his chest but have it standing for Sweden yanno. Ahhhh to dream the impossible dream.
        • 3 Years Ago
        @kevsflanagan
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      SooooRight
      • 3 Years Ago
      To hell with SLAAB. Die already.
      r67bennett
      • 3 Years Ago
      SAAB DIE ALREADY!
      • 3 Years Ago
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        • 3 Years Ago
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          aatbloke1967
          • 3 Years Ago
          Incorrect. Swedish Automobile NV is the former Spyker Cars NV which bought Saab from GM. Spyker as a corporate legal entity was sold to a group of venture capitalists, however, Swedish Auto owns the rights to the marque Spyker, and as such remains a brand name. Saab itself is a wholly owed subsidiary company. Owning a brand name isn't the same as owning a subsidiary.
          aatbloke1967
          • 3 Years Ago
          Swedish Automobile IS Spyker. It is Saabs holding company.
        LegacyLunatic
        • 3 Years Ago
        Excellent idea. SAAB would be the budget brand allowing Volvo to start moving upmarket. Now just imagine a SpykerVolvo!
          • 3 Years Ago
          @LegacyLunatic
          [blocked]
        clquake
        • 3 Years Ago
        Since they can't get GM's technology, why would they buy a money pit? It's poorly run, and even the buyout price is not enough to cover the debt. By definition, this company is a turd, it doesn't matter how quirky their cars are. If the cars were actually good, they'd be in business, like Volvo, BMW, Merc & Audi, but they're not. I'm sorry if I'm offending any Saab fans, but if your company has NEVER turned a profit, then it needs to cease wasting money and move on.
        • 3 Years Ago
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          • 3 Years Ago
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      founerra
      • 3 Years Ago
      Damn it, Saab don't die now, need 9-3!!!!
        • 3 Years Ago
        @founerra
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      • 3 Years Ago
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      Thipps
      • 3 Years Ago
      I hate to say it but this should have happened long ago, Just think of how many tax payer dollars where used to prop up a failing car company, the free market is great, profits tell you everything you need to know
      cbr929mark
      • 3 Years Ago
      So anyone want to start a pool of when Saab finally kicks the bucket?
      Sukairain
      • 3 Years Ago
      *Sobs*
      XJ Yamaha
      • 3 Years Ago
      It's baffling how this company isn't "officially" dead yet...
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