Saab may delay wages again, union to file for bankruptcy image

Struggling Swedish automaker Saab on Thursday said there is having again problems paying salaries of its 3,500 workers, and that November wages due to be paid Friday will be delayed.

“We do all we can to solve this, but there is a big risk of delays,” Saab spokesman Eric Geers told Dow Jones Newswires.

In an email to its employees, the carmaker promised to make the payments ‘as soon as possible.

After receiving court protection from its creditors, Swedish Automobile N.V.agreed to sell 100% of Saab to Chinese partners Pang Da and Zeijiang Youngman Lotus Automobile, it had to get approval from its shareholders. General Motors, though, almost immediately raised concerns over the deal .

“Saab and Youngman can do whatever they think is best for the company,” the paper quoted GM spokesman James Cain saying. “But if it is a 100 percent takeover of Saab, they are going to do it without the cars we deliver, the 9-4X, and without GM’s technology,” he added.

Victor Muller, chief executive of Saab’s embattled owner Swedish Automobile, said GM’s rejection of the proposed rescue plan would mean that negotiators would have to “go back to the drawing board” with Chinese investors Pang Da and Youngman Lotus.

Meanwhile the time is ticking and Saab’s largest blue-collar union says it will have no choice but to file for the automaker’s bankruptcy next Monday (Nov. 28), unless its members receive salaries.

Saab was on the brink of bankruptcy when GM sold it to Swedish Automobile – at the time called Spyker – in early 2010 for $400 million.