Major Solar Panel Maker Files for Bankruptcy, Will Sell Off Assets for $45 Million

Solar panel company SunPower has filed for Chapter 11 bankruptcy in the United States and entered into a “stalking horse” agreement with Complete Solaria to sell a portion of its business. The San Jose, California-based company filed for Chapter 11 protection on Aug. 6 in the U.S. Bankruptcy Court for the District of Delaware, where it listed assets and liabilities between $1 billion and $10 billion. According to the filing, SunPower had $1.1 billion in debts and $1.2 billion in assets as of the end of 2023, including debts of up to $15.4 million with its largest creditor, Zyxel Communications Inc., and $4 million with tech firm Enphase Energy. It also owes $3 million to Google and $3 million to Leonard Roofing, according to the filing....