Scandinavian supplier body FKG doubts its members will receive any money should Saab’s dire predicament result in collapse.
Saab today (23 June) announced it had halted payment of June salaries to its employees, the news delivering yet another blow to the automaker desperately trying to negotiate interim debt terms with myriad suppliers.
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“They will get nothing…suppliers are not prioritised,” FKG managing director Sven-Ake Berglie told just-auto from Sweden. “Every single thing [Saab CEO Victor] Muller owns or can use as a security for a loan, he has already done that.
“It is a kind of surprise as we thought the sale of the real estate would do but something stopped the process. This is of course the most serious situation we have seen so far and it is really a question if they will succeed this time.”
FKG told just-auto earlier this week Saab had offered to pay an initial 10% of debt it owed to suppliers although the automaker declined to discuss any such deal that would see the balance paid in mid-September.
“I think the main companies here in Sweden said ‘OK,’ but I think there are a number as far as I have heard, a number of foreign companies that have said ‘no’,” noted Berglie.
“It does not look good at all.”
Reports indicate the Swedish Enterprise Ministry is due to hold a press conference later today to discuss the Saab crisis, but calls to Stockholm were not immediately returned.
