Saab today announced 750 job cuts as it tries to stay afloat but hastened to add that a group of Sweden-based investors is interested in buying the brand.
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GM has already said it will ditch Saab by 2010 which in turn has led Saab to seek creditor protection. Now the Swedish firm is racing to restructure and find a new buyer.

"I cannot disclose who they are, but I can confirm that there is a group of investors in Sweden which has shown interest," Saab spokesman Eric Geers said. "Saab is being courted by six to eight very large companies in total and has hired Deutsche Bank to look for even more potential bidders."

Saab said on Thursday it had given notice to 750 employees at its Trollhattan plant, in south-west Sweden which consisted of 650 blue-collar and 100 white-collar positions.

"These notices are a direct consequence of the recession and the global economic downturn," Saab spokeswoman Annika Troedsson said.