Swedish Government Rejects Saab's Request For Bankruptcy Protection
September 9th, 2011 8:00 AM
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It was just yesterday when we reported that Saab was seeking government protection against bankruptcy, but now it seems like this step has failed.
A Swedish court has rejected a protection and voluntary reorganization plan, citing that it does not believe any steps the automaker makes will help it to recover.
Saab is “disappointed” with the ruling and is filing an appeal to overturn this decision. If the appeal is rejected also, this would very well be the end for Saab as an auto manufacturer. This would certainly be a very sad end for what was once a thriving company credited for making cars like the 900 Turbo (pictured).
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