A California solar panel manufacturer is filing for bankruptcy protection.
Solyndra of Fremont, Calif., received a high-profile $535-million Energy Department loan guarantee said it was ceasing operations, laying of 1,100 workers and preparing to file for bankruptcy protection.
Solyndra said it had been rocked by stifling global economic conditions and faced heavy competition from Chinese firms that were undercutting it on costs.
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--Ronald D. White
Photo: Ben Bierman, left, Solyndra’s executive vice president of operations and engineering, and company founder Chris Gronet take President Obama on a tour. (Paul Chinn, Pool photo / September 1, 2011)
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