Evergreen Solar Warns of ‘Substantial Doubt’ to Its Viability
Evergreen Solar Inc. (ESLR), a maker of thin polysilicon wafers for the solar industry, said it’s unsure whether the manufacturer will be able to continue in business due to liquidity concerns.
“There is substantial doubt regarding our ability to maintain liquidity sufficient to operate our business and our ability to continue as a going concern,” the company said in a filing with the Securities and Exchange Commission yesterday.
The company said its survival depends on obtaining additional financing from third parties and a successful restructuring of at least a substantial portion of its debt.
The Marlboro, Massachusetts-based company last week warned it may need to raise cash to continue operations after first- quarter sales fell short of expectations.
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