UK dealers assured will get paid by Saab GB

UK dealers assured will get paid by Saab GB

07/09/2011 in News, All News, Car Manufacturer News

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Saab GB has acted to reassure customers and dealers following the Swedish car brand's filing for voluntary financial restructuring.

It has issued a statement affirming that Saab GB, the national sales company, will not be affected by the announcement by Saab Automobile, the global carmaker.

"Saab GB is an independent business and a separate UK legal entity to Saab Automobile, it is wholly owned by Swedish Automobile and is not part of the voluntary reorganisation filing.

"Saab GB will continue to operate the business in the UK as normal and has sufficient funding in place to meet all creditor obligations and will continue to pay all employees, dealers and suppliers as normal.

"Saab GB and its dealer network will continue to provide servicing, replacement parts and vehicle warranty facilities for Saab customers as normal."
 


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Saab GB

Following the demise of Saab - falling into bankruptcy at the of 2011 - the name continues here as Saab Automobile Parts UK, formed from the British arm of the business and a network of around 80 authorised repairers aiming to offer cover for "90% of what was the original manufacturer's warranty".

From March 2013 it also started promoting the sale of used Saabs after its used car locator helped generate 1,000 unit sales in 2012.

Saab GB's managing director heads up a team of 16 at the new company.

In September 2011 Saab Automobile won an appeal in a Swedish court to get the go-ahead for bankruptcy protection proceedings in the hope that this will give it time to secure a deal with Chinese investors.

A month later the carmaker secured a second round of funding, of £44.6 million, from US private equity firm North Street Capital to contribute to restructuring. Saab subsequently terminated its Chinese funding agreements.

On November 2011 administrators from Grant Thornton were appointed to Saab Great Britain, the UK's national sales company for the Swedish brand.

The company entered a voluntary administration following months of suspended production and tight liquidity at its global parent, Saab Automobile AB.

In the meantime, sales stalled. And in October 2012 Saab's dealer council disbanded, donating the balance of funds to sector charity BEN.

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