General Motors says it has begun 'an orderly wind down' of its Swedish car maker Saab, but would continue to review any late proposals to buy the brand.
The US car giant, in the process of a massive restructuring after bankruptcy last year, said the process for Saab 'is expected to take several months, and will ensure that employees, dealers and suppliers are adequately protected'.
GM also confirmed that it has received 'several proposals' for Saab and was continuing to look at these even as it begins liquidation of the business.
Several groups, including Dutch sportscar maker Spyker and a group comprised of Formula One boss Bernie Ecclestone and Genii Capital, a Luxembourg investment firm, have said they presented GM with last-ditch bids to rescue Saab.
Saab employs 3,400 people in Sweden.
