“Mounting system maker Schletter’s U.S. company voluntarily filed for Chapter 11 bankruptcy on April 24. The company reports between US$10 million and $50 million in both liabilities and assets, with debts owed to over 300 creditors.
It is not clear exactly what led to the filing, however there are many possible factors. The recent imposition of tariffs on imported steel and aluminum has put racking, mounting and tracking systems suppliers which manufacture in the United States under pressure, but there are a number of company-specific concerns as well.
Schletter Inc.’s German parent company filed for insolvency in late March, and is currently restructuring. Additionally, Schletter Inc. has been ordered to pay damages under a breach-of-data lawsuit brought by its own employees, after an employee revealed personal data in a “phishing” scam.
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Roselund, Christian. PV Magazine 26 April 2018.