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SunEdison Said to Be Preparing to File for Bankruptcy

Solar-energy company SunEdison plans to file for bankruptcy protection in the coming weeks, a dramatic about-face for a company whose market value stood at nearly $10 billion in July.

The company is preparing a chapter 11 filing and is in talks with two creditor groups to obtain a loan to fund its operations during the process, according to people familiar with the matter. Creditors are likely to take control of the company and its portfolio of power projects, the people said.

SunEdison, whose stock has plummeted in recent months, would rank among the largest financial collapses in recent years.

http://www.wsj.com/articles/sunedison-said-to-be-preparing-to-file-for-bankruptcy-1459548775