Chinese Solar Firm Forced Into Bankruptcy as Glut Deepens (1)

More Chinese solar manufacturers are falling into restructuring or bankruptcy, with a deepening oversupply and fierce price wars causing massive financial losses and threatening many smaller players’ survival.

A subsidiary of Zhejiang Akcome New Energy Technology Co. was the latest to declare bankruptcy when it was ordered by a court to undertake a reorganizing process after a creditor said the manufacturer “was not able to pay debts” and “clearly lacks solvency,” according to a filing by the parent company on Monday.

China’s world-leading solar industry is grappling with a wave of company failures and consolidation as excessive capacity pushes prices ...