Q-Cells said it would file for insolvency after failing to agree a financial restructuring with all creditors.It’s not just an isolated case either:
The company said it would request the opening of insolvency proceedings at a court in Dessau, eastern Germany, on Tuesday, although executives hoped “to secure the survival of the company” while under administration.
Fellow equipment maker Solon and Solar Millennium filed for creditor protection in recent months, and Solarhybrid, a company that planned, financed and built solar power stations, followed suit in the middle of March.Further to ‘keeping it unreal’, is the imagined cache they think it has:
A penny stock since late last year, Q-Cells stock tumbled 41 per cent on Monday to close the day on the Frankfurt stock exchange at €0.13 per share. The company had listed some seven years ago at €38 per share.
Should Q-Cells’ administrator decide the company cannot emerge from insolvency on its own, he or she could try to find a buyer for what is still considered one of the strongest brands in the German – and European – solar sector.