It's a shame, but no great surprise. Regardless of who owned it, sticking with the business model of making 2 models of saloon car notable for turbocharged petrol engines during a period where people have deserted the sector in droves to buy MPV's, 4x4's and Coupe's, and switch to diesel power, was never going to work long term.
People who bought Saab's because they wanted something premium and didn't fancy a BMW or a Merc. The premium bit diminished, the GM diesels weren't up to scratch and VAG did a great job of increasing Audi's market share to provide another alternative premium option.
RIP Saab.