CHANDLER, AZ — A Chandler-based solar company has ceased operations amid an ongoing bankruptcy case.
Titan Solar Power, which was founded locally in 2013, filed for Chapter 7 bankruptcy protection June 20.
The company estimated it has between $1 million and $10 million in assets against $1 million and $10 million in liabilities, according to its petition with the U.S Bankruptcy Court for the District of Arizona.
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It reported having between 5,001 and 10,000 creditors. The authorized representative of the company is Kyle Beddome, who is listed in the bankruptcy filing as the business owner.
Unlike a Chapter 11 bankruptcy, which typically aims to restructure a company and keep its operations going, a Chapter 7 bankruptcy typically involves terminating a company's operations and liquidating assets to pay off creditors.
