Saab has announced that it will not be participating in the Frankfurt auto show next month.
The Swedish company will instead be focusing its attention towards ongoing money woes and the restart of its factory in Trollhatten, Sweden.
A cash shortage halted production in March.
According to an official at the regulator, Saab will face possible investigations of its accounts and a freeze on assets by Sweden’s Debt Enforcement Agency, if the company cannot pay two suppliers approximately $620,000 by Wednesday.
The procedure will begin Wednesday if Saab does not pay the car-seat part manufacturer, Kongsberg Automotive AB and a consulting firm based in Sweden, Infotiv AB.
A post on Saab’s Inside Saab blog states that while the company would like to be furthering its global presence at the Frankfurt auto show, now is not the appropriate time to be doing so.
Source: Automotive News
