Yesterday, Saab filed for a voluntary reorganization similar to GM's in 2009 and kept the tiniest hope of survival alive. But the agonizing automaker is for whom the bell tolls today, after a Swedish court rejected its plea and pushed it toward bankruptcy.
"Overall, the court finds that it is unclear how the company would be able to solve its liquidity crisis and continue operations," said the decision by the Vanersborg district court in west Sweden.
Saab released a very brief statement, saying it is ''disappointed'' and planning to appeal the ruling.
More details are to be expected tomorrow, but all signs now point to a swift death.
Sources: Reuters, Saab
"Overall, the court finds that it is unclear how the company would be able to solve its liquidity crisis and continue operations," said the decision by the Vanersborg district court in west Sweden.
Saab released a very brief statement, saying it is ''disappointed'' and planning to appeal the ruling.
More details are to be expected tomorrow, but all signs now point to a swift death.
Sources: Reuters, Saab