Saab GB has taken a voluntary decision to go into administration.
A statement issued today said the move has been taken following months of intensive negotiations and a long period of suspended production and tight liquidity situation at Saab Automobile AB.
With immediate effect, David Dunckley and Daniel Taylor of Grant Thornton UK LLP have been appointed joint administrators of Saab GB.
Saab GB, a 100 per cent subsidiary of Swedish Automobile NV (Swan), has exclusive rights to distribute Saab cars and parts in the UK. It employs 55 people in Milton Keynes and distributes the cars and parts to a 58 strong dealer network across the UK of which 20 are ‘Saab-only’ sites. Saab City, a wholly owned subsidiary of Saab GB employing 65 people, operates two Saab motor dealerships, one in Wapping and a smaller site in Fulham.
The statement said: “The board of Saab GB is of the opinion that administration gives the company and creditors the necessary legal protection until it has secured the required funding for the company. The appointment of the administrator is effected by the directors of Saab GB.”
Once appointed, the administrator will take on the management powers of the directors.
Swan continues discussions with potential investors regarding the sale of Saab Automobile AB and Saab Great Britain Limited.
Saab GB has set up a hotline to deal with queries from customers: 0845 300 9593.