It’s being reported this morning that Saab has officially filed for bankruptcy protection in a Swedish district court. Saab’s bankruptcy comes two years after GM announced that it was going to wind down the brand as part of its reorganization.
The past two years have been filed with non-stop ups and downs for Saab, but after many failed funding attempts it looks like the end is finally here. Saab production has been stalled since earlier this year when the automaker ran out of money to pay its creditors. Investment attempts from Chinese companies Pang Da and Youngman gave us hope that Saab would survive, but vetos from GM prevented any of those deals from ever happening.
After 64 years it’s time to say goodbye to Saab.