Saab should declare itself bankrupt as its attempts to save itself from oblivion are now “getting pathetic”, according to the head of Europe’s association of automotive suppliers (CLEPA).
Lars Holmqvist told just-auto that Saab’s sole remaining option was to declare itself bankrupt and to allow its employees’ salaries to be guaranteed by the state for six months.
“In a way I hope Saab will do it themselves - it is the only decent thing to do - they have run out of money completely,” he said.
“"Somebody will declare them bankrupt - there are thousands of people who can do it - if you are a supplier or government or an employee and not being paid.”
Saab yesterday declared it was no longer able to pay its workforce and recent deals with two Chinese firms - Pang Da and Zhejiang Youngman - have failed to free up cash flow at Saab to allow it to return to normal day-to-day operations and pay off substantial debts to suppliers.