PVTIME – The Swiss solar technology firm Meyer Burger has filed for Chapter 11 bankruptcy protection for its US subsidiaries, following the insolvency of its German subsidiary. This covers entities including Meyer Burger (Americas) and units based in Arizona, with the company seeking to sell assets and dismiss worker retraining lawsuits.
The firm estimates its U.S. liabilities to be between $500 million and $1 billion, against assets of $100–500 million. It cites failed fundraising as the cause of its collapse. Its Phoenix module plant made all staff redundant in late May, affecting 355 workers at its Goodyear facility, as revealed in a WARN Act filing.
Meyer Burger’s shift to the US market — triggered by financial setbacks in Europe — proved unsuccessful, and both Arizona sites have now closed. The company’s German battery plant and R&D office have also closed, marking a steep decline for the once-prominent solar manufacturer.
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