30 May '12, 4pm

Bankruptcy Fears for China's LDK Solar: Filed under: Energy News

Chinese photovoltaics leader LDK Solar (LDK ) is headed for bankruptcy according to industry observers within China, due to its immense debt burden and a global downturn in the solar energy market. China’s Nanfang Zhoumo reported on May 26 that bankruptcy rumors have plagued LDK in recent months, causing investors to seek to divest themselves of shares in the company and regional clients to suspend orders for the company’s products. One of LDK’s leading investors, Guokai Jinrong, is believed to have sought buyers for its stake in the company since the start of 2012, with management heavily regretting its decision to invest in LDK in 2011, just prior to the solar energy market entering a slump after riding an unprecedented wave of growth. LDK’s 2011 Q4 financial report, which at the end of April was delayed for several days, indicates that the company is mired in debt of U....

Full article: http://www.altenergystocks.com/archives/2012/05/bankruptc...

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