Residential Solar Firm Lumio Files Bankruptcy, Plans to Sell (1)

Lumio, a privately owned provider of residential solar panels, filed bankruptcy with a plan to sell its business to its primary lender, White Oak Global Advisors LLC.

The Utah-based company filed Chapter 11 on Tuesday in Delaware listing assets and liabilities each of between $100 million and $500 million. The sale to White Oak is in the form of a $100 million credit bid, subject to better offers, Lumio said in a statement. That means White Oak will use debt it’s owed toward the purchase of the solar business.

The bankruptcy filing is the latest sign of trouble for ...