C Street Guides SunPower’s Chapter 11

August 8, 2024 / O’Dwyer’s PR – C Street Advisory Group is providing strategic communications counsel to California’s SunPower Corp., which filed for Chapter 11 on August 5.

At the same time, SunPower has ironed out a $45M stalking horse asset purchase agreement with Complete Solaria for its Blue Raven Solar business, new home operations, and non-installing dealer network.

Tom Werner, executive chairman at SunPower, said Complete Solaria “will carry forward our vision to shape the future of residential solar as a pioneer in this space.”

SunPower has asked the US Bankruptcy Court (District of Delaware) to approve the assets deal by mid- to late September.

Werner is working to line up “long-term solutions for the remaining areas of our business, while maintaining our focus on supporting our valued employees, customers, dealers, builders and partners.”

Founded nearly 40 years ago, SunPower registered $1.7B in 2023 revenues and posted a $247M net loss.

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