The end appears near for Saab.

Like bankrupt royalty trying to keep up appearances and hoping to marry new money, the once-proud Swedish marquee kept saying a return to production was just around the corner as its owner, Spyker, danced with Chinese and Russian suitors.

But we rounded the corner today, and it's not pretty: The company said today it has no money to pay its 3,700 employees, reports the Associated Press.

Not meeting payroll means production, essentially shut down since April 6, can't restart any time soon restart because what supplier would deliver parts now without cash up front?

The company insists the latest news does not mean it will file for bankruptcy. Spokesman Eric Geers told the AP: "We're saying that we don't have funding to pay out salaries, but we're working day and night to find a solution. We're assuming we'll find a solution."

But Spyker, now called Swedish Automobile, also said that while it is in talks for various deals, there's "no assurance that these discussions will be successful, or that the necessary funding will be obtained."

And Saab's unions today told Reuters that if the pay situation is not resolved by Monday, they will give Saab an official demand for payment, starting legal action in Sweden that could force Saab into bankruptcy.

In recent months, CEO Victor Muller put together a deal to sell plant assets to a Russian investor for a stake and deals with two Chinese companies, Zhejiang Youngman Lotus Automobile and Pang Da Automobile, for ventures to make and sell Saabs in China. The two Chinese companies would end up with a combined majority stake in Saab in the deals, which still need approval from Chinese, Swedish and European authorities.

The brand was sold last year by GM to Spyker for $74 million in a deal that left GM still holding preferred shares that now seem worthless. GM bought Saab in 1989 and never was able to make the high-cost small brand profitable, so a turnaround under Spyker was always a long shot.