Saab Files for Bankruptcy

The Detroit News - September 6, 2011

In a last-ditch effort, Saab own­er Swedish Auto­mo­bile has filed for bank­rupt­cy pro­tec­tion. The automak­er has been beat­en down by increas­ing debt, pro­duc­tion stop­pages, and with­held salary pay­ments. Swedish Auto­mo­bile claims this time will give the com­pa­ny some extra time as it waits for fund­ing from Chi­nese investors, which is cur­rent­ly await­ing reg­u­la­to­ry approval.