PosiGen, PBC, a Houston, Texas-based renewable energy company, has filed for Chapter 11 bankruptcy amid financial challenges. Along with it, nine affiliate companies, including PosiGen, LLC, have resorted to bankruptcy as well.
PosiGen, PBC and its Affiliates File for Bankruptcy
According to Pacer, PosiGen, PBC and its affiliates filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas. The solar energy company from Houston made the filing on November 24.
The company provides residential solar and energy-efficiency services to a broad range of households. The official filing mentions the names as its affiliates who have also filed for a Chapter 11 process: PosiGen, LLC, PosiGen Developer, LLC, PosiGen Holdings, LLC, PosiGen Operations, LLC, PosiGen Owner 2, LLC, PosiGen Provider, LLC, PosiGen Owner 3, LLC, PosiGen Rampart Holdco, LLC, and PosiGen Rampart, LLC.
Bankruptcy Details…