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Apr 3rd, 2012
Q-Cells SE files for insolvency proceedings
The former world leader in crystalline silicon solar cell manufacturer has abandoned an attempt to refinance its debts.
Q-Cells SE files today for insolvency. The company employs currently more than 2,000 workers.
Following an intensive review of alternative concepts for the implementation of the financial restructuring, the Executive Board has reached the conclusion that a going concern of the company cannot be restored on a sufficiently secure legal basis. Therefore the filing for insolvency proceedings is legally necessary.
The Executive Board and the preliminary insolvency administrator will work together to secure the continuity of the company within the insolvency proceedings.
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