CHANDLER, AZ — A Chandler-based solar company has ceased operations amid an ongoing bankruptcy case.
Titan Solar Power, which was founded locally in 2013, filed for Chapter 7 bankruptcy protection June 20.
The company estimated it has between $1 million and $10 million in assets against $1 million and $10 million in liabilities, according to its petition with the U.S Bankruptcy Court for the District of Arizona.
It reported having between 5,001 and 10,000 creditors. The authorized representative of the company is Kyle Beddome, who is listed in the bankruptcy filing as the business owner.
Unlike a Chapter 11 bankruptcy, which typically aims to restructure a company and keep its operations going, a Chapter 7 bankruptcy typically involves terminating a company’s operations and liquidating assets to pay off creditors.
Read more of this story from the Business Journal.
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