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SunPower's Tuesday stock price has dropped by 23%. Since the start of the year, the company's market value has dropped nearly tenfold.
The business possesses assets valued at $1.22 billion and its overall debt is around $1.12 billion.
During the bankruptcy process, SunPower has agreed to sell several assets to competitor Complete Solaria Inc. for $45 million. Solaria's total shares have increased by 13%.
Article 11 of the U.S. Bankruptcy Code permits restructuring of assets and debts in order to address a financial emergency.
source: marketwatch.com
The business possesses assets valued at $1.22 billion and its overall debt is around $1.12 billion.
During the bankruptcy process, SunPower has agreed to sell several assets to competitor Complete Solaria Inc. for $45 million. Solaria's total shares have increased by 13%.
Article 11 of the U.S. Bankruptcy Code permits restructuring of assets and debts in order to address a financial emergency.
source: marketwatch.com
