Official: Saab Great Britain files for bankruptcy protection

Filed under: Government/Legal, Saab, Earnings/Financials, UK

The Great Saab Sob Story of 2011 continues unabated as Saab Great Britain has officially filed for bankruptcy protection. Saab GB is a wholly owned subsidiary of Swedish Automobile N.V., the parent company of Saab, and has the exclusive rights to distribute Saab automobiles in the UK.

There are 58 Saab dealerships in the UK, 20 of which are standalone operations. According to Saab, court-backed protection is its best course of action in the UK, as it has yet to receive any sort of funding most of the promised funding from its supposed Chinese partners. Read the official press release after the break for all the details.

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Saab Great Britain files for bankruptcy protection originally appeared on Autoblog on Tue, 29 Nov 2011 13:31:00 EST. Please see our terms for use of feeds.

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Source: http://www.autoblog.com/2011/11/29/saab-great-britain-files-for-bankruptcy-protection/

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