Saab files for bankruptcy after China deal fails
World BusinessDec 20, 2011
STOCKHOLM (AP) ― After six decades of building cars renowned for their teardrop designs and quirky features, cash-strapped Saab Automobile gave up its desperate struggle for a lifeline Monday and filed for bankruptcy.Saab CEO Victor Muller said “the last nail in the coffin’’ was previous owner General Motors Co.’s rejection of a Chinese company’s attempts to gain control of the ailing Swedish brand. Muller personally handed over the bankruptcy petition to a Swedish court, which approved it late