Stumbles for Embattled Solar Firm SunPower End in Bankruptcy
- Company had replaced its CEO this year, restructured
- High rates and California subsidy changes have dragged sector
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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 default on a credit agreement. In 2024, the firm replaced its chief executive officer, restructured its operations and lost its accountant.