Applied Solar Inc., a San Diego-based manufacturer of building-integrated photovoltaics products, has filed for bankruptcy protection under Chapter 11. The company declared assets of $17.6 million and total debts of $29.1 million, Reuters reports.
The company sought bankruptcy protection in late May. At the time, Applied Solar said it was engaged in discussions with potential financing sources, including The Quercus Trust, concerning the extension of debtor-in-possession financing.
SOURCE: Reuters
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