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The rooftop solar installer SunPower has filed for bankruptcy, after struggling for months in the face of high interest rates and allegations of misconduct in its reporting practices.
SunPower stock fell 32% to 55 cents per share Tuesday. Its shares have collapsed nearly 90% this year.
SunPower listed assets and liabilities between $1 billion and $10 billion in its Chapter 11 protection filing late Monday in U.S. Bankruptcy Court for the District of Delaware. Its largest stakeholder is TotalEnergies, according to FactSet.
SunPower is selling its Blue Raven Solar and new homes businesses as well as its non-installing dealer network to Complete Solaria for $45 million subject to court approval, according to a statement late Monday. The…
Source www.cnbc.com
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