herald

Wednesday 15 August 2018

Saab on the brink

LUXURY car manufacturer Saab has now been forced to apply for protection from bankruptcy.

The Swedish carmaker has failed to raise new finance and currently needs to pay staff wages and keep vehicle production rolling.

The 64-year-old company said it was confident the legal move would buy the time it needed to stabilise its financial position by bringing in money from two potential Chinese shareholders, plus cash from other sources.

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