Yet another another one of GM’s brand will bites the dust. As a casualty of the American automaker’s restructuring efforts–which involved bankruptcy–Saab, along with Pontiac and Saturn, is the latest casualty. After months of trying to find buyers and getting into talks with the likes of Koenigsegg and Spyker (which was the last bidder standing), GM was unsuccessful. As a result, the U.S. automaker will start an orderly wind-down of Saab’s operations.

“Despite the best efforts of all involved, it has become very clear that the due diligence required to complete this complex transaction could not be executed in a reasonable time. In order to maintain operations, Saab needed a quick resolution,” said GM Europe President Nick Reilly. “We regret that we were not able to complete this transaction with Spyker Cars. We will work closely with the Saab organization to wind down the business in an orderly and responsible manner. This is not a bankruptcy or forced liquidation process. Consequently, we expect Saab to satisfy debts including supplier payments, and to wind down production and the distribution channel in an orderly manner while looking after our customers.”

According to GM, Saab will continue to honor warranties while providing service and spare parts to current Saab owners. Moreover, it isn’t expected that this announcement would have any impact on the sale of certain Saab 9-3 and the current 9-5 powertrain technology and tooling to Beijing Automotive Industry Holdings Co. Ltd. (BAIC).