Saab UK goes into administration
Months of intensive negotiation, gaping periods of zero production and a company wallet getting ever lighter seems to have proved enough for Saab, as the UK arm of the business has filed for administration.
The whole company hasn't gone under though – that would be an even more tortuous twist given the recent Chinese takeover – just the UK subsidiary of the Swedish automotive manufacturer.
The Saab story has been one of the most complex tales in the automotive world for years, rivalling the Porsche-VW struggle a few years back. And this latest news marks another leg in the arduous journey back to full health for Saab, just as the company was getting back on its feet too. Well, sort of.
Saab GB doesn't actually make any cars - the UK arm of the Swedish brand just has the exclusive rights to distribute parts and cars to the 58-strong dealer network across the UK.
In a particularly austere statement from troubled Saab, the company said: "The board of Saab GB is of the opinion that administration gives the company and creditors the necessary legal protection until it has secured the required funding for the company. The appointment of the administrator is effected by the directors of Saab GB."
So, basically, it all comes down to money again. No surprise there, as Saab has been in the financial doldrums, not making any money, since production was halted at the company's Trollhattan factory.
Hopefully though, some knight in shining armour can swoop in, drop a load of cash for Saab to settle its creditors debts and give us all another episode of one of the best soap operas around.