Is Saab about to disappear? Bankruptcy "just hours away" Swedish press says

Once upon a time, Saab was a shining star in the sea of vehicles GM built or had a hand in building. Now, with Swedish creditors pounding on the doors and Swedish employees unpaid, the factory shuttered in Sweden (although the one in Mexico has its doors open), and the Chinese government saying the Chinese "white knight" money is doubtful - the "administrator" put in charge of the Swedish company appears to be fed up, according to news reports.

Saab dodged the bankruptcy bullet last month but without money to get by from day to day, it may be only a matter of time. That's a shame in many ways, not the least of which is the fact that reviewers like what they saw when Saab unveiled it new 9-4X model only weeks ago.

Orphaned by GM during the GM bankruptcy, and shuttled back and forth among suitors ever since while it struggled for cash flow, it likely now faces the end of the fight soon. Perhaps very soon.

As we have been saying for months, maybe you need to think hard before you buy a new or used Saab unless, of course, you can get a bunch of spare parts as part of the sale. You may not be able to find a dealer who has any when your Saab's parts wear out or break down.

Burdge Law Office

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