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Politics

Potential Buyers Show Little Interest In Solyndra

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Solyndra Headquarters in Fremont (Solyndra Inc.)

Solyndra Headquarters in Fremont (Solyndra Inc.)

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FREMONT (CBS/AP) – The Fremont solar panel manufacturer that received a half-billion dollar loan from the federal government has been unable to attract much interest from potential buyers to take over its operations.

Instead, Solyndra is looking at a piecemeal sale of its assets, with separate auctions for its machinery and equipment, real estate and intellectual property.

Solyndra LLC officials told a U.S. bankruptcy trustee Tuesday that no qualified bidders have come forward for the whole company.

Solyndra’s chief restructuring officer says a handful of potential bidders are still conducting due diligence, but he would be surprised if one came forward with a reasonable offer to take over Solyndra.

The company was once touted by the Obama administration as a “green jobs” creator. Solyndra is not the focus of an investigation led by Republican members of the U.S. House of Representatives.

(Copyright 2011 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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