Ssangyong Motor Co. Ltd. is out of cash and may have to declare bankruptcy soon, a spokesman says. The auto maker has seen sales dry up ever since a violent strike began May 21 that has workers occupying its Pyongtaek, South Korea, assembly plant. Ssangyong today received court approval to evict the striking workers from the SUV plant, but analysts note that won’t give the company much leverage with the strikers, who are armed and continue to defy police and management. “We will have ...
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