According to recent reports that surfaced in Swedish media, Saab is said to have millions of crowns in unpaid debt to its suppliers. Because of this, the suppliers are refusing to provide the parts needed by the plant to continue its operation.
“The interruptions are caused by shortages in material shipments in part related to the tight liquidity situation,” Saab said in a statement cited by The New York Times. “The company is confident to soon resume normal operations, with the additional funding that we expect to secure.” In addition, says Saab, negotiations with the suppliers are ongoing.
Coincidentally or not, these problems have somewhat been previewed by statements made by Russian investor Vladimir Antonov, who pointed to the Swedish car maker could go under in just a few days, provided certain adverse conditions are met. The latest supplier debt development is causing quite a stir in local media, who once again began talking about the demise of the brand.
The hope lies in the hands of the same Vladimir Antonov, who is currently expecting approval from the Swedish government to step in and give the company some $21 million in exchange for a 30 percent share.
“I hope it will be resolved, and I think it will be resolved. There should be more equity in the company, a straightforward equity infusion by one or two large capital investors," Tom Muller, analyst with Theodoor Gilissen Bankiers in Amsterdam was quoted as saying by DetNews.
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