Abound Solar to Suspend Operations, Will Seek Bankruptcy – Businessweek

Abound Solar Inc., a U.S. solar manufacturer that was awarded a $400 million U.S. loan guarantee, will suspend operations and file for bankruptcy because its panels were too expensive to compete.

Abound borrowed about $70 million against the guarantee, the Loveland, Colorado-based company said today in a statement. It plans to file for bankruptcy protection in Wilmington, Delaware, next week.

via Abound Solar to Suspend Operations, Will Seek Bankruptcy – Businessweek.

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