Solar Manufacturer Meyer Burger Files Bankruptcy for Us Subsidiaries

Image: Hendrik Schmidt/dpa-Zentralbild/dpa

Recently, the US subsidiary of Swiss photovoltaic giant Meyer Burger, Meyer Burger Americas Ltd., filed for Chapter 11 bankruptcy protection with the U.S. Bankruptcy Court in Delaware. Meyer Burger stated that its assets range from $100 million to $500 million, while its liabilities amount to $500 million to $1 billion.

Prior to filing for bankruptcy, on May 29, Meyer Burger announced the closure of its solar module factory in Arizona, USA, and permanently laid off 282 employees, ending just one year of operation at the facility. On May 31, two of Meyer Burger’s German subsidiaries (Meyer Burger Industries GmbH and Meyer Burger Germany GmbH) filed for bankruptcy due to a broken capital chain, affecting 620 employees.