GM has announced today that it will close down SAAB after the sale of the Sweedish brand to Dutch niche car maker Spyker Cars NV could not be completed quickly anough.
“We regret that we were not able to complete this transaction with Spyker Cars,” GM Europe President Nick Reilly said in a statement. “We will work closely with the Saab organization to wind down the business in an orderly and responsible manner.”
source: Autonews Europe
Reily also added that the closure isnt a result of bankruptcy nor a forced liquidation process.
“Consequently, we expect Saab to satisfy debts including supplier payments,” Reilly said, “and to wind down production and the distribution channel in an orderly manner while looking after our customers.”