Saab Says there's a New Risk of Delayed Payments to Workers

More bad news for cash-strapped Saab. After Sweden's regulators started the collection process against Saab Automobile for failing to meet a deadline last week to pay two suppliers, the automaker's parent company Swedish Automobile N.V. (Swan) announced today that the payment of August wages to employees could be delayed because some of the funds that were committed by investors may not be paid in time. Read more »

Swedish Regulator Prepares to Seize Saab Assets as the Automaker Hires Endeavor to Secure New Funding

Saab just can't seem to get a break. When you think that it's on the right path to solve its problems, suddenly new issues arise. This time it’s Sweden’s Debt Enforcement Agency, which, according to Detnews, has started collection proceedings after the company failed to meet last Tuesday’s deadline to pay two suppliers.

Saab’s debt to Kongsberg Automotive AB, a Norwegian manufacturer of car seat parts, and Infotiv AN, a Swedish consulting firm, amount to $633,000, with the majority belonging to Kongsberg according to the Agency’s chief, Hans Ryberg.

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Saab Ditches Frankfurt Motor Show as Debt Concerns Mount

In a move that was more or less anticipated after the recent plague of problems, Saab today announced that it will not be present at the most prestigious automotive event of the year, the 2011 Frankfurt Motor Show.

"Presence at the show requires resources that Saab are currently allocating towards the restart of production in Trollhattan," said a posting on the Swedish firm's official blog. "Whilst it would be desireable to be at the show to help further Saab’s global presence, it is not considered an appropriate use of resources at this time."

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New Saab 9-3 to Debut in Early 2013 with a Different Name, 9-2 Successor Still on the Table

Refreshingly enough, this isn’t a story about Saab’s troubles. Instead, it is a ray of hope as the Swedish carmaker lays out its plans for the future. These include a replacement for the aging 9-3 sedan, which according to Saab’s North American president, Tim Colbeck, will debut in the first quarter of 2013. Read more »

Saab Sells 5 Million Shares to Find Short-Term Funds

Exactly a month ago to this day, Saab announced a deal with China's Pang Da Automobile Trade Co. and Zhejiang Youngman Lotus Automobile Co while also revealing a grand plan for expanding its range with three new models, the 9-1, 9-6X and 9-7. It also delivered its first 9-4X in the US. All’s well that ends well, right?

Well, in Saab’s case it looks like we haven’t seen the end just yet. The Swedish firm continues to face a cash-flow problem. Thus, it issued a press release concerning the subscription notice for 5 million shares under a €150 million agreement between Swan and GEM Global Yield Fund Limited.

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Saab Delays Payments to White-Collar Employees

When it comes to Saab, it seems that for every dollop of good news that trickles out from Sweden there are multiple bad news.

On Tuesday, the cash-strapped Swedish automaker said that its white-collar workers will not receive their next payment (at least not on time) because the company has not yet been paid by its investors.

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