Saab to Meet Creditors Who Seek Payment

It looks that problems never seem to stop when it comes to Saab. We were all keeping our fingers crossed waiting for the Swedish manufacturer’s recovery from its financial difficulties. As you recall, the manufacturer has beenforced to halt production due to cash shortage.

Moreover, Sweden’s Debt Enforcement Agency has been asked to collect debts from Saab Automobile by eight companies till now.

"We will start the collection process in a few days,"Christina Lindberg employee at the agency was quoted as saying by autonews.com.

Among the “creditors” finds itself a Norwegian company that manufactures car-seat parts, according to the enforcement agency. Also last week, another supplier, SwePart Verktyg, asked a Swedish district court to declare a part of Saab in bankruptcy after it had failed to pay a debt.

Until now the total amount that Saab owes is unknown. For the moment the Swedish manufacturer renegotiating payments and delivery terms with the suppliers and expects to resume production until August 29.

"We have discussions with all the suppliers to resolve this as soon as possible.We have come far in the discussions," Eric Geers, Saab spokesman was quoted as saying by the aforementioned source.

There have been registered more than 104 debts from Saab with the collection agency, also to note that some companies have filed more than one debt claim. Saab hopes to bypass this period in order to resume production, for the moment the manufacturers only option is renegotiating the existing contracts hoping for a postpone.