Jaguar8 commented on a stock · Sep 16, 2024 20:27

NEWS

Complete Solar is Winning Bidder in SunPower Chapter 11 Proceedings

Complete Solar Holdings, Inc. (Nasdaq: CSLR) has been named the prevailing bidder for SunPower's assets in its Chapter 11 proceedings. Subject to final Bankruptcy Court approval on September 23, 2024, Complete Solar will acquire SunPower's assets and manage three of its business units. CEO T.J. Rodgers announced plans to hire 1,000 people from SunPower's current workforce, offering fresh stock options and a startup work ethic. Despite Rodgers' intention to reduce applications by emphasizing the workload, 1,925 employees applied within hours. Rodgers aims to transform recent shareholder complaints into respect or praise within a year with the newly formed team.

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