SAAB GB enters voluntary administration

Saab Great Britain Ltd ("Saab GB") has been placed into voluntary administration following months of speculation surrounding the company's future.

With immediate effect, David Dunckley and Daniel Taylor of Grant Thornton UK LLP have been appointed joint administrators of Saab GB.

Saab GB, a 100% subsidiary of Swedish Automobile N.V. ("Swan"), has exclusive rights to distribute Saab cars and parts in the UK. It employs 55 people in Milton Keynes and distributes the cars and parts to a 58 strong dealer network across the UK of which 20 are "Saab only" sites. Saab City, a wholly owned subsidiary of Saab GB employing 65 people, operates two Saab motor dealerships, one in Wapping and a smaller site in Fulham.

Saab production has been suspended since March. It was thought that a new investor would bring much-needed cash to put the company back on its feet. That money has so far not been forthcoming.