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Debt Agency Crashes Down on Saab

The Saab automaker has been in hot water for the past several months, as they are struggling to make ends meet. However, the temperature has just risen a few degrees with the news that the Swedish Debt Enforcement Agency is starting to take collections against Saab. This news is coming after Saab neglected to meet the deadline to pay two of their suppliers this past Tuesday. The money that Saab owed was to Kongsberg Automotive AB that is the provider of car seats, while they are also owed Infotiv AB, which is a Swedish based consulting firm. The majority of money that they owed was to Kongsberg Automotive. The total among of money owed is around $633,000 US dollars.   

The Debt Agency has said that the investigation started on Wednesday, and right now they are still trying to find out just what Saab has that can be used for collateral in order to get people the money that they owe them. There has been around one hundred claims filed against Saab by many other companies with the debt agency in an effort to get the money that is owed to them. Keep in mind, some companies have made more than one claim against Saab. Saab has said that they are working with the debt agency in order to get the issues resolved.   

The debt agency will back off once Saab pays their debtors. And right now Saab is trying to come up with money that would enable them to reopen their plants and to continue to produce cars. However, it is not looking promising. They have sold some stock to other companies, and plan to do the same once again in a few more days in an effort to raise money. Right now though, it seems that the road ahead for Saab is going to be rather bumpy, since the debt agency could take one to three months just to find out where the company is at, and then they could recommend bankruptcy as a last alternative for the company, something that they are wanting to avoid.