'Just go bust'

The European Association of Automotive Suppliers has advised that underfire and woe-stricken manufacturer Saab would be best off by admitting defeat and going into voluntary liquidation.

The association's boss claimed it was 'the only decent thing to do', after Saab was unable to pay its workers their wages last week. A mysterious order from an anonymous Chinese firm for 582 cars has given the Swedish firm some respite, but still far from a healthy situation.

Lars Holmquist added that Saab's survival would depend on it increasing production from 30,000 cars a year to something in the region of 120,000. As well as that it would need an injection of cash to the tune of €1 billion.

Since that looks unlikely to happen, the best thing for Saab might be to just fall on its sword and admit defeat and call it a day.

United Kingdom - Excite Network Copyright ©1995 - 2020