Saab's Dance Card Filled by Collection Agency

I really wanted to come back to you guys with better news after the last time we talked about Saab. Saab — the little car company that Just Quite Can’t — remains in murky financial water.

And now? They’re calling the collection agencies.

It’s actually a Swedish collection agency — or, rather, it’s the Swedish Enforcement Administration (a.k.a. Kronofogdemyndigheten for those who speak the International Language of Love^*) — that’s been harnessed to help Saab’s creditors recoup some of their losses.

Eight companies have engaged the Kronofogdemyndigheten, and most are auto-parts manufacturers. Back in April, Saab was forced to halt production of its cars due to a cash shortage (around the time I was forced to drop cable television due to my own cash shortage. Corporations! They’re just like us!); it’s currently alleging that it is “negotiating payment and delivery terms with suppliers and aims to restart manufacturing in the week of August 29, it said July 21.”

However, they won’t be able to rectify their current cash-shortage if everyone continues to pile up on the asking end of the question, “Where’s my money?” Along with Kongsberg Automotive AB, a Norwegian company that makes car-seat parts, SwePart Verktyg, another European car-part supplier, have asked Swedish district courts to put Saab’s tools unit in bankruptcy after it had failed to pay the debts.

[^* cf this video for an alternate take and why Messrs Hall and Oates never fully developed their acting careers will forever remain a mystery. Also, I kind of desperately need that hula lamp. My birthday’s in September.]