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Swedish Carmaker Saab Declares Bankruptcy

Posted December 19th, 2011 at 9:45 am (UTC-5)
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Swedish automobile maker Saab has filed for bankruptcy after a final attempt to remain viable failed when former owner General Motors blocked a rescue deal by Chinese investors. Saab officials submitted the bankruptcy documents Monday. Saab’s current owner, Swedish Automobile, bought the company from GM in 2010. They said without further funding, the company will […]

Tags: , Posted in Economy, Europe

Saab Chief Apologies to Unpaid Workers

Posted August 31st, 2011 at 8:35 pm (UTC-5)
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The head of Sweden’s ailing car maker, Saab, is offering his “sincere apologies” to workers who have not been paid for a month. Victor Muller said Wednesday the second quarter of the year has been “unbelievably tough” for Saab, with a $220 million loss and the threat of bankruptcy. Muller said Saab management is working […]

Tags: , Posted in Europe

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