DENVER (AP) — Abound Solar is blaming Chinese companies for causing it to declare bankruptcy.
Former executives of the Loveland-based company testified before Congress on Wednesday that Chinese companies sold solar panels under cost and they couldn’t compete.
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The company received a $400 million loan guarantee from the federal government before it filed for bankruptcy July 2.
According to the Denver Post (http://bit.ly/NzUWNo), Abound has been compared to Solyndra, a California panel maker that went bankrupt last year after spending its $535 million loan guarantee.
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Information from: The Denver Post, http://www.denverpost.com
