By [email protected] When I spoke with Andrew Schneider, the CEO of American Solar Direct earlier this year, he told me that despite a recent round of layoffs aimed at “low producers,” the situation was full speed ahead at the solar installer and sales company, which had its first cash-flow positive months in late 2016.
Last week, American Solar Direct filed for chapter 7 bankruptcy in California Central Bankruptcy Court (spotted by Triple Pundit). According to its bankruptcy filing, the company had less than $50,000 in assets and liabilities of between $10 million and $50 million.
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