Troubled auto-maker General Motors, which has already received $13.4 billion worth Federal loans, has hinted at possible bankruptcy if the company's restructuring plans does not succeed in the long term.
Moreover, GM has said its independent public accounting firm - Deloitte & Touche LLP - has raised "substantial doubt" about the firm's ability to continue as a "going concern".
"If we are not able to obtain adequate financing from the US government or other sources or to execute our viability plan or if our viability plan does not result in an entity capable of sustaining itself over the long-term... We could potentially be required to seek relief through a filing under the US Bankruptcy Code," the company said in its annual report to the SEC.
The car maker in its the filing to the Securities Exchange Commission said it could potentially seek relief through bankruptcy, "either through a pre-packaged plan of reorganisation or under an alternative plan, which could include liquidation".
Beleaguered GM is currently seeking another $30 billion in loans from the US government to stay afloat.
The firm also warned that the success of its "viability plan" and ability to continue as a "going concern" are highly dependent on sales volume.
