“US residential solar installer PetersenDean has filed for Chapter 11 bankruptcy protection.
Red Rose Inc, the parent company of the California-based installer, filed a voluntary petition with the United States Bankruptcy Court for the District of Nevada on 11 June.
The firm appears to have preceded the filing by suspending solar and energy storage business activities, confirming on the same day that it would not be offering installation quotes for the time being.
Documents published by legal services provider Epiq show Red Rose estimates between 200 – 999 creditors, with estimated liabilities of between US$10 million and US$50 million. No funds are expected to be available to unsecured creditors after administrative expenses are paid.”
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Stoker, Liam. PVTech 17 June 2020.