Saab Cars North America Facing Liquidation
"We notified creditors that it is our opinion that there is no way to salvage the company," said Jim McTevia, of McTevia & Associates, the administrator appointed to operate the U.S. distribution arm, according to Automotive News.
"There is no money to keep the company going until someone figures out what to do. They have some parts inventory, which we started distributing. There are no new parts coming in,” he added, explaining why they are moving ahead with liquidation.