Saab CEO Victor Muller personally handed in the bankruptcy application to a court in southwestern Sweden, ending his two-year effort to revive the carmaker that over more than six decades has become known for its rounded sedans and quirky design features.
Saab bankruptcy rejected by Swedish court, saying its financial plan for solvency unclear. Automaker's unions may file bankruptcy petition for Saab.
582 Saabs: The company claimed the deal would provide the ailing car brand with enough funds to pay salaries to its employees, but didn't reveal the name of the Chinese company.
The struggling Swedish automaker doesn't have enough cash to pay its 3,800 factory workers this month.
Saab could be getting some of its parts and technology from BMW, according to Spyker Cars, the Dutch company that owns the Saab brand.