SunEdison Inc. filed for bankruptcy protection after a two-year, $3.1 billion acquisition binge that drove its debt to unmanageable levels and sent investors running for the exits.
The clean-power giant listed $16.1 billion of debt in Chapter 11 filings Thursday in Manhattan federal court, making it the biggest U.S. bankruptcy of the year. While the buying spree ultimately did SunEdison in, the bankruptcy comes as energy companies of all sorts are succumbing to a slump in prices. Earlier this month, coal producer Peabody Energy Corp. sought creditor protection, reporting $10.1 billion in liabilities.
