General Motors Co. indicated that it is proceeding with plans to shut down Saab Automotive, but will continue to entertain offers for the Swedish based automobile brand.

A spokesman for General Motors said the car company will not be making any comments on reports that they have extended the deadline for bids.  They had previously indicated that proposals would only be accepted until Thursday.

Over the last month, General Motors has been in negotiations to sell the Saab brand to Dutch automaker Spyker Cars.  An earlier attempt to sell Saab to a Swedish manufacturer fell through last month.

Saab was founded in 1937 and has manufactured a wide range of products in addition to their well known automobiles.  General Motors purchased 51% of the company’s automobile division in 1990 for $600 million and an option to purchase the remaining shares within ten years.  In 2000 General Motors acquired the remaining shares of the automobile division for $125 million.

In February Saab entered into the Swedish version of Chapter 11 bankruptcy.  Sweden’s government refused to offer a bailout, stating that the company would be better off producing a different product.  General Motors received over $50 billion in bailout money from the US government earlier this year.