CNNmoney: It’s a stunning reversal for SunEdison (), a solar and wind company that was worth almost $10 billion less than a year ago.
But the company was hit by financial troubles in recent months caused by a mountain of debt taken on during better times.
SunEdison hopes to clean up its balance sheet through a Chapter 11 restructuring. The solar company secured $300 million in financing to keep the business afloat. The new funds will allow SunEdison to continue ongoing projects, pay wages and benefits. more