It all comes down to this: Mr. Guy Lofalk, the administrator in charge of Saab's reorganization for the Swedish government, has signaled his intent to apply for termination of the voluntary reorganization of the automaker.
Saab is against the ropes, it's the bottom of the ninth with two outs, fourth and goal and [insert other cliched sports analogy here]. The struggles faced by the Swedish automaker have been a constant news item for a long time now – Business deals went south, and the automaker has since been on a downward spiral of collections claims, angry suppliers and unpaid employees. Now comes more news from Trollhättan, and it's a bit of a mixed bag.
Spyker's deal to purchase General Motors' ailing Saab division out of the throes of insolvency appears to be moving along quite nicely. Production of vehicles is underway, a plan is in place to launch critical new models and the European Union has approved of a European Investment Bank loan of 400 million-euros ($546 million) to Spyker.
- Most and least efficient car companies
- Fastest-depreciating cars in the United States
- Find and compare 2017 Models