SunPower seeks to designate Complete Solar as stalking horse in APA

SunPower is seeking to have Complete Solar designated as the stalking horse in its Chapter 11 bankruptcy APA with a $45 million bid for certain assets. The hearing to approve the stalking horse motion is scheduled for August 29, before the U.S. Bankruptcy Court in Delaware, with the likely closing of the sale by the end of Sept. 2024. In order to stabilize the SunPower business, Complete Solar’s bid also will assume certain liabilities, including up to $7.2 million for the SunPower New Homes business. Retention employment offers were made to a group of SunPower New Homes employees.