Toledo solar panel spin-out Xunlight closes its doors as the firm files for bankruptcy.
Xunlight, a cleantech spin-out of Toledo University, has filed for bankruptcy as the company plans to liquidate its assets.
Company filings at the US Bankruptcy Court show that the solar panel manufacturer has roughly $1.9m in assets, around $800,000 in inventory and the remainder in financing, but has amassed $28.5m in debts.
Switzerland-based venture capitalist Emerald Technology Ventures is the largest creditor, with Xunlight owing the firm $11.4m. Other creditors include the Huntington National Bank, the Toledo-Lucas Port Authority, several…
