Massive Taxpayer-Backed Solar Panel Manufacturer Goes Bankrupt

Despite $535 million taxpayer dollars for loan guarantees and a speech from the President himself praising its success, the solar panel manufacturer Solyndra has gone bankrupt.


NBC reported the Chapter 11 filing is official, which means Solyndra‘s state-of-the-art, 300,000 square foot front-end manufacturing factory and a 500,000 square foot back-end facility are kaput for now.

Bloomberg News reported that the company’s reasons for the Chapter 11 Filing are “market and industry conditions.”

Apparently, the workers at Solyndra had no idea the company was in dire straits. As NBC wrote of their moment of recognition: 

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