SAAB asks to be made bankrupt
The Dutch owner of Saab has asked for the ailing car maker to be made bankrupt, a court said on Monday, setting the stage for the demise of one of Sweden's best known brands after months of struggle.
A spokesman for Vanersborgs court in west Sweden said Victor Muller, the chief executive of Saab owner Swedish Automobile, had handed in a bankruptcy application.
The move came after former Saab owner General Motors, still a key supplier, at the weekend again blocked a rescue plan involving Chinese car maker Youngman.
The move came after former Saab owner General Motors, still a key supplier, at the weekend again blocked a rescue plan involving Chinese car maker Youngman.
Last Update: December 19, 2011 15:07