Stumbles for embattled Bay Are solar company SunPower end in bankruptcy

  • 📰 mercnews
  • ⏱ Reading Time:
  • 35 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 68%

Brasil Notícia Notícia

Brasil Últimas Notícias,Brasil Manchetes

After a drawn-out saga involving a restructuring and a management shakeup, one of the most-prominent names in US solar, SunPower Corp., has now filed for bankruptcy.

Over the course of less than two years, the once-darling of the industry was forced to fire workers to cut costs, restate earnings and it defaulted on a credit agreement. In 2024, the firm replaced its chief executive officer, restructured its operations and lost its accountant.

The rooftop solar company agreed to sell assets including its Blue Raven Solar installation unit and new homes businesses to Complete Solaria Inc. as a stalking horse buyer for $45 million, according to a statement late Monday. It asked the court to approve the deal by the end of September. SunPower, founded in 1985, long had a reputation for producing some of the best solar panels in the industry, but it spun off its manufacturing operations in 2020 to focus on then-surging demand for rooftop installations. That bet soon unraveled as inflation and high interest rates boosted costs for consumers. Meanwhile, the firm’s own corporate struggles stymied its operations.

 

Obrigado pelo seu comentário. Seu comentário será publicado após ser revisado.
Resumimos esta notícia para que você possa lê-la rapidamente. Se você se interessou pela notícia, pode ler o texto completo aqui. Consulte Mais informação:

 /  🏆 88. in BR

Brasil Últimas Notícias, Brasil Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

SunPower solar business meltdown triggers hundreds of Bay Area layoffsSunPower, a once high-flying pioneer of the solar energy industry, plans to slash hundreds of Bay Area jobs.
Fonte: mercnews - 🏆 88. / 68 Consulte Mais informação »