AlixPartners appointed to liquidate Saab

Posted on Monday, 11 January 2010 , 17:01:03 byEmil

Filed under alixpartnersliquidatewind-downsaabgmgeneral-motorsSaabGM

AlixPartners appointed to liquidate Saab

After giving us some hope that Saab will eventually survive, things have been taken to a new level. More precisely, General Motors has appointed AlixPartners to supervise the liquidation of Saab. AlixPartners is a well known restructuring firm.

More than this, General Motors has requested approval of their choice by the appropriate authority in Sweden. Thus, after receiving approval, AlixPartners will supervise the liquidation of the Swedish automaker`s assets.

General Motors has said in a prepared statement that ``The wind down process is expected to take several months, and will ensure that employees, dealers and suppliers are adequately protected. As stated previously, Saab customers can be assured that warranties will continue to be honored and that service and spare parts will continue to be available``.

The North American auto group also said that the decision to appoint AlixPartners to supervise the liquidation of the Swedish automaker`s assets will not affect the evaluation of the bids they have received for Saab so far.

Honestly, at this point, I really think that Saab has no chance to survive. I had hopes when General Motors cancelled the bidding deadline, but this news comes to shatter any small amount of hope left. Farewell, Saab . Hope to see you back soon.