Sweden seizes Saab cash for suppliers

Sweden’s state debt collector has started to seize assets of cash-strapped car-maker Saab as it tries to recover SKr5.1 million (£484,000) owed to suppliers.

Hans Ryberg at the enforcement authority said: “One of the banks to which we have sent requests [about seizing assets on Saab’s bank accounts], SEB, has answered. We have found money at SEB.”

Car production at Saab ground to a standstill in April because suppliers that had not been paid refused to deliver components. Since then, it has been scrambling to find new sources of financing.