Another solar company collapses…laid-off workers checks bounce

So much for the booming green energy industry.

Paychecks have bounced for some of the 350 Sungevity workers who were abruptly laid off ahead of the struggling solar company’s recent bankruptcy filing.

Oakland-based Sungevity laid off employees on March 9 in Oakland and in Kansas City, Missouri, as well as remote workers. It then filed for Chapter 11 bankruptcy on March 13, estimating debts and assets each in the $100 million to $500 million range, according to court records.

The company is attempting to reorganize its finances and arrange its sale to a group of private investors.

Read the whole story in the Mercury News


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