Saab latest: We’re not going bankrupt…

saab_aero_9-3Saab owner Nevs has today issued a statement insisting the company is not insolvent, but that it does not currently have enough liquid cash to pay all its outstanding debts.

Its assets are larger than its liabilities, hence the reason why it’s not insolvent, but although Nevs says suppliers will get paid, it can’t say when.

“During the summer,” said the statement, “the dialogues with the two major vehicle manufacturers have continued and developed in a positive direction.” Yes, there’s been a delay; Nevs explained that “it is a thorough evaluation process that is still ongoing, and the discussions have not been finalised yet.”

Surprisingly though, Nevs did admit that the future of Saab production in Sweden may still not be guaranteed even if it does complete the funding plan.

“After the funding is secured, and that Nevs business plan is updated together with its new partners, Nevs will be able to make the decision on when the Trollhattan factory can resume its production.

A statement that’s as positive as it can be, given the circumstances, but which does still leave unanswered questions.

It’s been enough to stave off the immediate threat of bankruptcy, though: “The company whose representative filed a bankruptcy petition has informed Nevs today that they will withdraw the case after the information they have got regarding the ongoing dialogues,” concluded the firm.

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