The financial problems of Saab continue to deepen as the Swedish manufacturer has announced it is "unable to pay the wages to employees". This is due to Saab not being able to secure short-term funding to support itself.
Swedish Automobile, formerly Spyker Cars, says it is in discussions with various parties to obtain short-term funding. This includes the sale and lease-back of property presently owned by Saab.
However, workers at the Trollhattan factory are now threatening legal action. If this goes ahead, it could lead to the collapse of Saab and bankruptcy. So far, the unions representing the car workers have said they will give Saab seven days to react to the workers' demands.
Alisdair Suttie - 24 Jun 2011