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After failing to secure investment from several Chinese companies, the Swedish company has now filed for bankruptcy.
The talks with the potential Chinese investors broke down after intervention from General Motors, which vetoed the decision to procure any investment from the former. It acted as the "last nail in the coffin of this beautiful company," according to Saab Chief Executive Victor Muller.
"The US automotive giant remains a stakeholder and supplier" (BBC News), even after selling the company to Dutch carmaker Spyker in 2010.
The company has been struggling to pay its suppliers since April, with workers going unpaid for the last month.
The talks with the potential Chinese investors broke down after intervention from General Motors, which vetoed the decision to procure any investment from the former. It acted as the "last nail in the coffin of this beautiful company," according to Saab Chief Executive Victor Muller.
"The US automotive giant remains a stakeholder and supplier" (BBC News), even after selling the company to Dutch carmaker Spyker in 2010.
The company has been struggling to pay its suppliers since April, with workers going unpaid for the last month.
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