German solar firm Q-Cells has filed for bankruptcy. The government of Saxony-Anhalt is now considering financial aid for Q-Cells, in order to save 2,200 local jobs. Among the options currently discussed is direct financial aid, support in making tax payments and loan guarantees. The state might acquire a stake in the company in exchange for support.
Q-Cells is a leading German solar cell manufacturer. Its insolvency was caused by creditors who decided to legally challenge a plan to restructure the firm. Q-Cells said that its executive board would work with a court administrator to secure continuous operation during the process.
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