Evergreen Solar said Monday it has filed for Chapter 11 bankruptcy protection and will cut its US and European staff by 65. The company is continuing to shift from its solar panel business to becoming a supplier of solar wafers. The Marlborough, MA-based solar power technologies firm said it plans to sell its assets but did not say how much it owes to creditors. The assets are expected to be “insufficient to satisfy all its obligations to its creditors,” Evergreen Solar said. The bankruptcy filing was not immediately available.
There was no word on whether Evergreen Solar would cut staff at its Wuhan plant.