8-K
filed February 6, 2024, 6:59 PM ET
CIK 0001172631
other material
confidence high
sentiment negative
materiality 1.00
Sunworks, Inc.: going-concern / distress — Sunworks files Chapter 7 bankruptcy, ceases operations, liquidates all assets
Sunworks, Inc.
- Filed voluntary Chapter 7 petitions on Feb 5, 2024 in Delaware Bankruptcy Court (Case Nos. 24-10215 through 24-10218).
- Company and three subsidiaries ceased operations; Chapter 7 trustee will liquidate assets and pay claims.
- CEO Mark Trout resigned; entire board (Trout, McCullough, Resch, Speer) resigned effective Feb 5.
- Company has no officers, directors, consultants, or employees as of Feb 5.
- Board of directors eliminated; trustee assumes control.
Key facts
Extracted from this filing and checked against the source text.
Distress & Bankruptcy
SEC 8-K Item 1.03
confidence 0.9
Sunworks, Inc. entered chapter 7 in United States Bankruptcy Court for the District of Delaware (petition 2024-02-05).
- Proceeding
- chapter 7
- Court
- United States Bankruptcy Court for the District of Delaware
- Petition
- 2024-02-05
Exact text from the filing
On February 5, 2024, after considering all strategic alternatives, Sunworks, Inc. (the “Company”) and three of its subsidiaries ceased operations and filed voluntary petitions for relief under the provisions of Chapter 7 of Title 11 of the United States Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”), Case Nos. 24-10215, 24-10216, 24-10217 and 24-10218.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Mark Trout resigned as Director at Sunworks, Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
On February 5, 2024, directors Mark Trout, Patrick McCullough, Rhone Resch and Stanley Speer resigned as members of the Company’s Board of Directors.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Rhone Resch resigned as Director at Sunworks, Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
On February 5, 2024, directors Mark Trout, Patrick McCullough, Rhone Resch and Stanley Speer resigned as members of the Company’s Board of Directors.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Patrick McCullough resigned as Director at Sunworks, Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
On February 5, 2024, directors Mark Trout, Patrick McCullough, Rhone Resch and Stanley Speer resigned as members of the Company’s Board of Directors.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Mark Trout resigned as Chief Executive Officer at Sunworks, Inc..
- Action
- resigned
- Role
- Chief Executive Officer
Exact text from the filing
On February 5, 2024, Mark Trout, Chief Executive Officer tendered his resignation, effective on such date.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Stanley Speer resigned as Director at Sunworks, Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
On February 5, 2024, directors Mark Trout, Patrick McCullough, Rhone Resch and Stanley Speer resigned as members of the Company’s Board of Directors.
View on SEC.gov
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