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Wednesday, October 12, 2011

Delays in Chinese Loan May Spell the End for Saab


If it were a movie, it would have more sequels than Rocky, Rambo and Mission Impossible all combined together. However, it is not: it is the story of Saab’s survival.

And the latest chapter may very well turn to be the last. According to the Swedish newspaper Svenska Dagbladet, Guy Lofalk, the administrator appointed by the court to oversee Saab’s implementation of its restructuring plan, is ready to stop the process, remove the company’s protection from its creditors and, effectively, declare the carmaker bankrupt.

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