Saab to finally succumb to bankruptcy

After another week of a last minute escapes for the troubled Swedish carmaker Saab Automobile, as some money from Zhejiang Youngman Lotus Automobile came to Saab's bank account, it seems the end of the line has finally been reached. More money was due today, but as General Motors once again shot down any Chinese involvement in acquiring Saab, Youngman appears to have decided against it. This it seems was the final straw and CEO Victor Muller admitted that Saab will now go bankrupt. The bankruptcy petition was filed to Vänersborg District Court earlier this morning as confirmed by a court official to news agency TT and a decision should come soon.