Government / Industry

Solyndra Files For Bankruptcy

Solyndra Files For Bankruptcy

US solar panel manufacturer’s, Solyndra, has announced that it will file for Chapter 11 bankruptcy protection, after failing to successfully compete against lower-cost solar panel manufacturers in China.

This was the beginning of a bad week for the environment in the United States, being capped off at the end on Friday with an announcement by President Obama that he would be halting a move towards stricter air quality laws. The Department of Energy had provided Solyndra with over half a billion dollars in the last stimulus package.

Solyndra plans to take a look at some options that could include a sale of its business and licensing of its technology. It also said that 1,100 full-time and part-time employees will be laid off immediately.

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