SunPower files for bankruptcy, to sell some US$45mil assets via stalking horse bid

A SunPower SunVault display of the solar company SunPower is seen inside one of their offices in Richmond, California, U.S., July 15, 2021. REUTERS/Peter DaSilva/File Photo

SOLAR firm SunPower said late on Monday it filed for Chapter 11 bankruptcy in the United States and entered into a 'stalking horse' agreement with Complete Solaria to sell some of its business for $45 million in cash.

Shares of San Jose, California-headquartered SunPower were down about 29% at 57 cents premarket on Tuesday.