Konarka Technologies files for Chapter 7

Konarka TechnologiesInc.filed for Chapter 7 bankruptcy, June 1, in U.S. Bankruptcy Court for the District of Massachusetts. The company manufacturesPower Plastic, a thin, flexible, organic solar panel that glass manufacturers can build into their end-use products. According to court documents, company officials anticipate funds will be available for distribution to unsecured creditors. Konarka has between $10 million and $50 million in estimated liabilities, the documents state.

Under Chapter 7 bankruptcy, all assets will be liquidated.

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