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Does anyone know where the save games are stored for this?
This question / problem has been solved by Waltoriousimage
Try the location listed in this thread:

http://www.gog.com/en/forum/space_rangers_series/reboot_where_are_planetary_save_games_stored

The save location can change depending on whether you installed the game to program files (that folder has extra security) and whether or not you are running the game as admin.
Thanks!