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SunPower files for bankruptcy, plans to sell off asset
Embattled solar installer SunPower has filed for Chapter 11 bankruptcy protection.
The rooftop solar installer SunPower has filed for bankruptcy, after struggling for months in the face of high interest rates and allegations of misconduct in its reporting practices. SunPower is selling its Blue Raven Solar and new homes businesses as well as its non-installing dealer network to Complete Solaria for $45 million subject to court approval, according to a statement late Monday. The U.S. Securities and Exchange Commission subpoenaed SunPower in February for documents over revenue recognition practices in quarterly reports from 2023, according to a filing.
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