Swedish Carmaker Saab files for Bankruptcy

Swedish carmaker Saab has filed for bankruptcy after failing to secure fresh funds from potential Chinese investors.

Production has been suspended at Saab's main plant in Trollhattan, Sweden, since April as the company has struggled to pay its suppliers.

 Earlier this month, a Swedish court told Saab's owners to come up with a credible rescue plan or else enter bankruptcy.General Motors (GM), which owns part of Saab, did not want Chinese carmakers accessing technology licences.