AlixPartners Appointed to Begin Saab Wind Down
Jan 08, 2010 - By Chris Weiss
It looks like none of yesterday’s last-hour bidders made a successful play for Saab. Yet. GM has appointed restructuring firm AlixPartners to lead the liquidation of Saab. GM has also sought approval of the appointment from the appropriate Swedish regulatory authority.
GM still plans on reviewing bids that it receives, but the forward march of the wind down can’t be a good sign of a deal to come.
The Saab wind down will take several months. Current Saab owners’ warranties will still be honored and Saab parts will continue to be stocked, according to GM.
GM had imposed a deadline of 5 p.m. EST yesterday for bids, and a number of companies including Spyker, were busy getting bids together at the last minute. [via Carscoop]