Popular car maker, Saab is filing for bankruptcy today as the firm struggles to stay in business. The automaker has failed to make a comeback unlike General Motors (NYSE: GM) and Ford (NYSE: F). Although the auto stocks have been struggling as of late, the automobile industry has rebounded strongly since the recession lows. Ford and GM however have revamped balance sheets and strong brands. GM in fact used to own Saab, however the company was not able to overcome the recent downfall.
The company is well known in Sweden as Svenska Aeroplan AB, which is Swedish for Swedish Aeroplane Company Limited.
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