Overview

• The insolvency petitions cover Meyer Burger Industries in Bitterfeld-Wolfen and Meyer Burger Germany in Hohenstein-Ernstthal, home to roughly 331 and 289 workers who had been on short‐time work.
• Meyer Burger stopped its solar module plant in Goodyear, Arizona this week, laying off all 282 employees due to a cash shortage.
• The Swiss parent applied for an extension to submit its 2024 financial statements while it seeks a broader rescue plan from bondholders.
• Voluntary restructuring efforts for the German sites fell short, leading to the appointment of a provisional insolvency administrator.
• The company’s prolonged financial struggles trace back years to aggressive pricing pressure from subsidized Chinese competitors.