Administrators at Saab GB’s parent company have advised the Swedish courts to end the company's voluntary reorganisation which will also end its protection from creditors.
Saab Automobile has five to six days before the district court in Sweden decides if the company will be given more time to reorganise or whether its bankruptcy protection will be lifted.
The Swedish brand has not produced any new cars since April this year and Saab GB, a 100% subsidiary of Swedish Automobile, appointed administrators Grant Thornton last week.
Chinese investors Pang Da Automobile and Zhejiang Youngman Lotus Automobile are still in talks over a sale. However, a deal with the Chinese has been stalled after Saab’s previous owner General Motors said it would not support a sale which would hurt its competitive position in China.
GM’s approval of a deal is key due to it holding Saab’s technology licenses and production contracts.
The RMI National Franchised Dealers Association is in contact with Saab GB’s dealer council and is urging its members that also have Saab dealerships to get in contact in order to access “expert legal advice”.