The move came after former owner, General Motors, blocked the proposed sale of the iconic brand to Chinese investors Pang Da Automobile Trade Co. and Zhejiang Youngman. Its reasoning was to stop GM-developed technologies falling into Chinese hands.
The carmaker has apparently received expressions of interest to buy parts of the company, and the bankruptcy filing is "not necessarily the end," according to Victor Muller, chief executive officer of parent company Swedish Automobile NV. However, any chance of a last minute rescue "would have to happen quick, in a few weeks, because our employees will be looking for other jobs."
Saab suspended production in March when it was unable to pay suppliers, has delayed paying wages to its 3,600 staff several times this year and has yet to give workers pay that was due at the end of November.
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