Sunday, January 10, 2010
GM Appoints AlixPartners to Wind Down Saab, Says Still Evaluating Bids
The saga that is called Saab entered a new phase today as GM confirmed it has selected restructuring firm AlixPartners to supervise the liquidation of the Swedish automakers assets and at the same time, has requested approval of the selection by the appropriate authority in Sweden.
"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," GM said in a prepared statement.
General Motors added that the appointment of AlixPartners will not affect the evaluation of the bids it has received for Saab so far. But while GM's "evaluation process" will not be affected, we're pretty sure that any interested parties won't see the orderly wind down of Saab with a positive eye.