A U.S.-based residential solar panel company, part of whose goal is to “help the planet,” has filed for Chapter 11 bankruptcy.The website said the firm has “inked a USD-100-million stalking horse asset purchase agreement with its major senior secured lender.” The site continued:
The stalking horse deal was signed with an affiliate of White Oak Global Advisors LLC which has committed to buying all of Lumio’s assets for consideration in the form of a credit bid. If selected as the successful bidder, the investment advisor intends to offer significant equity ownership to the company’s employees, a press statement says., the firm’s goal is to help people save money, help the planet, and work toward energy independence by using solar.
“Switching to solar power is an excellent option for those who want to reduce their carbon footprint and contribute to a more sustainable future without breaking the bank or sacrificing their lifestyles,” the sitewith suspected Chinese manufacturers by vetoing a bipartisan plan to restore United States tariffs on solar panels made in the communist country, Breitbart News reported.
From 2001 to 2018, U.S. free trade with China eliminated 3.7 million American jobs from the economy — 2.8 million of which were lost in American manufacturing. During that same period, at least 50,000 American manufacturing plants closed down.
The outlet noted that the industry “has been struggling with tight supplies of imported panels stemming from implementation of a law meant to weed out products made with forced labor.”Gold Star Mothers Set the Record Straight: Donald Trump Has Been There for Us; He Knows Our Children’s NamesGold Star Families: Kamala’s Attack on Trump ‘Made Us a Target for a Lot of Hate’Trump: ‘I’d Be Inclined’ to Release Epstein Client List if ReelectedIsraeli Amb.
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