More than 3,000 UK jobs have been put at risk after the planned sale of General Motors’ Saab company collapsed.
In June, General Motors Europe, Saab’s parent company, announced it had struck a deal to sell Saab to the Swedish car-maker Koenigsegg and that the sale would be completed by the end of the third quarter.
But Koenigsegg has now pulled out of the deal, saying it “regretted” not being able to follow through with its original plans.
The sale would have secured approximately 3,000 jobs at Saab’s UK dealerships and more than 100 jobs at its UK headquarters, the Times reported.
Koenigsegg said: “After six months of intense and goal-oriented work, we have come to the painful and difficult conclusion that we are not going to be able to carry out the acquisition of Saab.”
General Motors said it was “very disappointed” with the decision.