Finnish solar firm Valoe declared bankrupt after failed restructuring

Following failed restructuring efforts, delayed financial reporting, and stalled investor negotiations, Finnish PV firm Valoe Corporation was declared bankrupt recently.

By Karthik Srivasthav G 07 Apr 2025 in Business Bytes EMEA Bytes

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Valoe’s board has issued a statement thanking employees, partners, and shareholders following the court’s bankruptcy decision. Image Source: Valoe Corporation

Valoe Corporation, based in Mikkeli, was declared bankrupt by the District Court of Pohjois-Savo on 7 April 2025. The Finland-based compoany develops solar technologies for vehicles and electronics using IBC solar cells. The decision followed a restructuring process launched in December 2024, during which Valoe implemented layoffs and delayed its 2024 financial statement due to incomplete data. Reorganization administrator Pekka Jaatinen filed to suspend the restructuring in October 2024, with a court hearing held on 4 April 2025. The company had set a new publication date of 30 April 2025 for its financial report. Valoe was also engaged in advanced talks with international investors for a potential sale. After the ruling, the Board issued a statement thanking its employees, partners, and shareholders.

#Finland #SolarBankruptcy #IBCSOLAR #ValoeCorporation

Advertisment {'id': '67f40c38d63f7e0e2751e8d0', 'source_name': 'Valoe Corporation', 'source_link': 'https://www.globenewswire.com/news-release/2025/04/07/3056445/0/en/Valoe-Has-Been-Decleared-Bankrupt.html', 'contact_name': 'Hannu Savisalo', 'contact_email': '[email protected]'}

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