Car Nation

Join Newsday's car culture discussion.

Saab could be declared bankrupt real soon

The web's buzzing about  Autocar's report that efforts by Chinese car maker Youngman to loan Saab $90 million may be blocked by the Chinese government. They're not happy because the deal doesn't include "the acquisition of any new intellectual property rights." Whatever that means. Read the report

This would force the administrator handling Saab's restructuring to declare the company bankrupt possibly by the end of the day. DUN DUN DUNNN.

What's surprising to me is that Saab is still floating around out there... somewhere.

 

Source: Autocar

Tags: Saab , Saab bankrupt , bankrupt , Saab bankruptcy , Chinese government , Youngman

advertisement | advertise on newsday

Optimum AutosClassifieds

Search cars



Build a car



advertisement | advertise on newsday