TROLLHATTAN, Sweden (Reuters) - Car maker Saab ran out of room for maneuver on Monday when its Dutch owner filed for bankruptcy, calling time on a nine-month battle to rescue the struggling Swedish marquee.
Saab’s cash problems began in March this year, after 2010 sales fell short of target. It has not made any vehicles since April.
The end of the road for Saab, which has been making cars for more than 60 years, came at the weekend when General Motors again vetoed a plan involving Chinese investor Zhejiang Youngman Lotus Automobile.