By Kelsey Misbrener Sungevity, a technology-driven solutions provider, offering exceptional service and choice to residential and commercial solar energy customers, announced that it has commenced voluntary Chapter 11 proceedings in U.S. Bankruptcy Court for the District of Delaware, in order to facilitate a financial and corporate restructuring to strengthen its balance sheet and recapitalize the company. During the Chapter 11 proceedings, it is expected that the company’s operations will continue uninterrupted.
In connection with the restructuring process, and under Section 363 of the Bankruptcy Code, the company has entered into an asset purchase agreement with a group of investors, led by Northern Pacific Group.
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