Swedish Automobile, the owner of Saab, has filed for bankruptcy protection.
Saab had to suspend production in April when its suppliers stopped deliveries after not being paid. Employees also had their pay delayed for three consecutive months.
SA intends to present a reorganisation plan to creditors within three weeks of filing it in a Swedish court.
Chief executive Victor Muller said it was the intention of Swedish Automobile to repay backall creditors in full - a total of 150 million euros ($US211 million).
Swedish Automobile, formerly called Spyker, bought Saab from General Motors in January 2010.
Earlier this year, it announced that two Chinese companies would buy minority stakes in the company.
However, the BBC reports these deals have not yet had regulatory approval in either Sweden or China.
They also need to be approved by the European Investment Bank.