Saab Seeks Court Protection From Creditors

Saab Seeks Court Protection From Creditors

Troubled Swedish carmaker Saab, owned by Dutch group Swedish Automobile NV , is to apply for court protection from its creditors, public radio quoted sources as saying on Friday.

Saab, rescued from bankruptcy last year by Swedish Automobile as former owner General Motors Co prepared to shut it down, has struggled to raise funds to restart production, pay wages and settle suppliers' bills.

Public radio quoted what it called several different sources as saying the company would apply for court protection from creditors. It did not say when this would happen.



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ShredmoShredmo - 8/26/2011 2:23:23 PM
+1 Boost
Born from jets.


ShredmoShredmo - 8/26/2011 5:12:20 PM
+2 Boost
Fantastic!


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