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Cashflow crisis continues for Saab

Saab does not have enough cash to pay employees' wages, according to a report on the BBC.

It reports that Saab's owner Swedish Automobile, previously known as Spyker, is still in discussions over short-term funding and plans to sell its properties to release capital.

Production at Saab's main plant in Sweden is currently on hold for the second time this year after it was unable to pay suppliers.

"Swedish Automobile and Saab Automobile are in discussions with various parties to obtain short-term funding, including via the sale and lease-back of the real estate of Saab that was announced previously, and with their financiers in connection with current financing arrangements," the company said in a statement.

 

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