Pursuits
Saab Auto Seeks Protection From Creditors as Cash Runs Out
This article is for subscribers only.
Saab Automobile, the 64-year-old Swedish carmaker that halted production in June, applied for court protection from creditors in a bid to raise money to restart operations and avoid a bankruptcy petition by unions.
“The reorganization is a move to stabilize the company in this tremendously rocky period,” Chief Executive Officer Victor Muller said in an interview today at the company’s headquarters in Trollhaettan.