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In a blow to the Obama administration's efforts to create green jobs, solar-cell maker Solyndra announced today that it would close its Fremont factory, lay off its 1,100 employees and file for bankruptcy. The news...
(This report contains items about companies both in bankruptcy and not in bankruptcy. Adds Lehman as first item; Madoff, South Edge and Seaarland in Updates; M Waikiki in New Filing; and Reader’s Digest, Newark Group, Mueller Water and Flexera in Downgrades.)
The company lists assets of $809,000 against liabilities of $7.2 million. The web retailing industry is adding another company to the list of merchants filing for bankruptcy in 2011: Ritz Interactive Inc.
Solyndra Inc., a maker of solar modules that received a $535 million loan guarantee from the U.S. Energy Department, suspended operations and plans to file for bankruptcy, citing economic and industry conditions.
Officials in Alabama's largest county have delayed for another week a decision on whether to file for the largest ever U.S. municipal bankruptcy.
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