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Saab Facing Peril Due to Bankruptcy, Again

(Credit: © Saab)

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Saab Facing Peril Due to Bankruptcy, Again

2014 Saab Aero 9-3

2014 Saab Aero 9-3 (Credit: © Saab)

Saab seems to have the worst of luck the past few years, and the bad news for the Swedish brand isn’t over yet. This time, its new owner, national Electric Vehicle Sweden (NEVS), that is facing the possibility of bankruptcy. The bad news comes after Saab earlier in the year began production again for the 9-3 sedan, only to halt it soon after because of financial problems.

The news that NEVS might be headed to bankruptcy is hardly a surprise. In May of this year, the company announced that it was experiencing some “short term cash problem” but that it would be taken care of once some new investors had been procured. Apparently the cash problem still hasn’t been alleviated, because Labo Test, which is one of the suppliers for Saab, is pushing for a court in Sweden to declare NEVS bankrupt.  The supplier claims that NEVS still owes it 150,000 kronor (which adds up to about $22,000) that has not been paid since February of 2014.

Does this mean that Saab will be parentless again? It seems that the company has a knack for attracting owners who then go bankrupt, like General Motors and Spyker.

Before anyone rushes to conclusions, though, it’s important to remember that so far nothing has been proven, only alleged. NEVS has not yet responded to the claims. In the past, NEVS has claimed that National Modern Energy Holdings, Ltd., which is its own parent company, would spot it any cash that is needed. Whether or not NEVS has someone coming to the rescue might seem unlikely, but in the wild story of Saab anything seems possible at this point.

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