Sungevity Is Sold: More Layoffs Without Notice, Name Changed to Solar Spectrum

By [email protected] No-longer-bankrupt solar sales firm Sungevity laid off two-thirds of its remaining technical staff, breaking the news at a company meeting today, according to sources. The company will provide no severance to the laid off employees.

PV Magazine reported yesterday that a bankruptcy court approved the sale of Sungevity’s assets to private equity firm Northern Pacific Group for $50 million, allowing “the company to invest $20 million in the company immediately.” An unsubstantiated rumor suggests that the firm has begun requesting pre-petition privileges from some of its suppliers offering 40 cents on the dollar of existing/outstanding liabilities.

The sale follows several

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