Close on the heels of its German subsidiaries filing for insolvency, Meyer Burger and its subsidiaries and debtor affiliates in the U.S. have filed for Chapter 11 protection in the Bankruptcy Court for the District of Delaware.
The company has filed for bankruptcy for its debtor affiliates Meyer Burger (Arizona), Meyer Burger (Americas), Meyer Burger (America) Lease, and solar module manufacturer Goodyear.
The company said it filed for bankruptcy due to liquidity challenges resulting from cost overruns and delays associated with the development of its Goodyear module facility.
It also attributed the bankruptcy to the cancellation of the solar cell manufacturing plant in Colorado.
Recently, Meyer Burger announced the shutdown of its…