Trollhättan, Sweden: Swedish Automobile N.V. (Swan) and Saab Automobile AB (Saab Automobile) announce that Saab Great Britain Ltd (Saab GB) filed for administration with the High Court in London today.
The board of Saab GB is of the opinion that administration gives the company and creditors the necessary legal protection until the required funding for the company has been secured. The appointment of the administrator is effected by the directors of Saab GB. Once appointed, the administrator will take on the management powers of the directors.
Swan received a conditional funding commitment from Youngman for the payment of the wages of the employees of Saab Automobile and for the continuation of the activities of Saab GB. Saab Automobile and Saab GB have not yet received this funding.
14 Ebor Saab members set off on Friday 10 May to make their separate ways to the assembly point at Gretna Green for what was billed as a Scottish Mystery Weekend, the mystery being only the organisers knew the itinerary. The mystery began to unfold on Saturday morning with a drive along gloriously empty roads under blue skies up into rural Scotland to visit the Kagyu Samye Ling Tibetan Temple at Eskdalemuir (nobody expected a visit the foothills of the Himalayas).