Swedish automaker Saab has filed for bankruptcy, the Wall Street Journal reports. The company will attempt to reorganize.

The application relates to Saab Automobile AB and its subsidiaries Saab Automobile Powertrain AB and Saab Automobile Tools AB but excludes Saab Automobile Parts AB and overseas subsidiaries.

Netherlands-based Swedish Automobile said the purpose of the proposed reorganization was to secure short-term stability while Saab Automobile awaits additional funding.

Saab Automobile has formulated a reorganization plan, including efforts to reduce its cost base, that will be presented to its creditors in more detail within three weeks of the filing.

Production at the company’s Trollhattan plant had already been halted since April due to unpaid bills.