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German solar panel manufacturer Solarworld said Wednesday it had filed for bankruptcy for the second time in 10 months, unable to right itself as global prices tumble for the renewable energy gear.
The company said in a statement it had requested insolvency proceedings be opened at a court in its home city of Bonn.
Meanwhile an administrator nominated to shepherd Solarworld through the bankruptcy process will visit Wednesday and determine whether it should continue production at its factories in Saxony and Thuringia states.
The firm’s move came as European Union anti-dumping measures against competing Chinese solar panels are set to run out, making its high quality but more expensive units a tougher sell.
Once a flagship company in Germany as the country turned away from nuclear power towards renewables, Solarworld employs around 600 people worldwide, down from around 3,000 before its first bankruptcy in May last year over excessive debt.
It was relaunched in smaller form in August with help from Qatari investors.