One Of America’s Biggest Solar Companies Files For Bankruptcy
Suniva Inc., a Norcross-based solar panel maker that received millions in federal, state and Gwinnett County incentives, has filed bankruptcy after falling victim to plunging prices for solar power cells.
Bankruptcy documents indicate the company has fired 230 workers in the past three weeks, and that its Georgia factory is being mothballed indefinitely by its 35 workers that remain on the job.
Meanwhile, the company indicated it may seek help from the government in fighting what it alleges is illegal dumping of cheap solar panels in the U.S. by Chinese manufacturers.
The bankruptcy by Suniva, one of the nation’s largest solar cell makers, comes only weeks after the company laid off most of its workers at its Gwinnett County headquarters and manufacturing plant.
Amid rumors that its suppliers weren’t being paid, Suniva also shut down another factory in Michigan last month.
It’s a sharp reversal for Georgia’s largest solar manufacturer and a blow to the state’s efforts to jump-start the high-tech industry here.