Seems that Saab just can't catch a break. Yesterday, the Swedish automaker filed for government protection, citing that if approved, the company would undergo a voluntary reorganization. Now, a court has rejected Saab's application for protection.

Saab plans to appeal the court's decision. In a statement, the automaker said that it is "disappointed with the ruling." The bad news is that, unless an appeal works, this could very well be the end of the road for Saab.

Automotive News reports that the Vanersborg district court in west Sweden released a statement regarding the Saab decision. Apparently, the court feels there is no reason to believe that a reconstruction would work.

Follow the jump for Saab's official statement, and stay tuned for more details as they unfold.
Show full PR text
COURT REJECTS VOLUNTARY REORGANIZATION APPLICATION, SAAB AUTOMOBILE TO APPEAL DECISION

Zeewolde, The Netherlands, 8 September 2011 - Swedish Automobile N.V. (Swan) announces that the District Court in Vänersborg, Sweden today rejected the proposal for voluntary reorganization by Saab Automobile AB and its subsidiaries Saab Automobile Powertrain AB and Saab Automobile Tools AB (collectively Saab Automobile). Saab Automobile is disappointed with the ruling and will appeal the District Court's decision.


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    • 1 Second Ago
  • 26 Comments
      Ken
      • 3 Years Ago
      Instead of looking for a car company to slush fund them, they should figure out how to flatpack a car and sell it in IKEA.
      Mohannad Aldubayan
      • 3 Years Ago
      Goodbye
      intellerv
      • 3 Years Ago
      Saab is done. It is nice to own a piece of history though. Gonna have to get creative on parts it looks like.
      avatar-ds
      • 3 Years Ago
      This is very troublesome news. It appears SAAB will now have only a very slim chance to avoid insolvency.
      JayH
      • 3 Years Ago
      can't they just get sold to a chinese company? they sure have enough money to save any ailing auto brand...
      gary
      • 3 Years Ago
      One foot in the grave, the other on a banana peel.
      sp33dklz
      • 3 Years Ago
      Finally, no more re-branded Opel's and crap GM platforms. 10 years from now.... "SAAB who?"
      Klinkster
      • 3 Years Ago
      The Sweeds are the smart one's - realizing that bad management and poor fiscal decisions should not be rewarded with bailouts and special privledges. Obama...hear that!? That's why Sweden's financial picture is considerably better than the USA.
        • 3 Years Ago
        @Klinkster
        [blocked]
      derekwilkinson
      • 3 Years Ago
      Well, maybe I can get a good deal on the new 9-5. That car is sexy.
      s10
      • 3 Years Ago
      Finally! What was obvious from the start, will finally happen. Saab is over.
      jessesrq
      • 3 Years Ago
      How could restructuring possibly work without competitive products?
      TangoR34
      • 3 Years Ago
      So GM screwed up SAAB, then Spyker couldn't be much help so it is harsh to say SAAB might as well just shut it's doors and do an MG (come back another time)?
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