Recent reports say that Saabs in unable to pay its workers and parts suppliers are forced to ask for the carmaker to be declared bankrupt, but this recent order could stave off the mayhem for a little while longer.
“I am pleased to announce this agreement, as it secures part of the necessary short-term funding for Saab Automobile and allows us to pay our employees' wages before the end of this month. The management of Saab Automobile is deeply committed to the company and its employees. I respect the decision of the union members to resign from the board of Saab Automobile. We very much regret the current cash shortage, which is causing undeserved hardship to all, and we are working relentlessly to resolve the current situation. We hope to secure additional short-term funding, necessary to reach agreement with all of our suppliers to restart production, soon,” said Victor Muller, CEO of Saab Automobile, in a recent company statement.
The pre-payment for the order will come this week, giving the stricken carmaker a chance to pay-off workers and suppliers. “Mr. Vladimir Antonov's interest in participating as an investor/financier in Swedish Automobile remains unwavering, but he is still awaiting a decision on his clearance from parties at interest following the Swedish National Debt Office (NDO) recommendation to clear him over 8 weeks ago,” Muller added, highlighting the importance that renewed financing has for the carmaker.
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