The lights may be out for SunEdison (SUNE) in the next few weeks, according to a recent report from The Wall Street Journal.
Shares of the Missouri-based renewable energy company fell more than 60% after hours Friday to less than $0.25 following the Journal's report.
SunEdison is in talks with two creditors to secure financing to fund operations during a restructuring process, the Journal said, citing sources close to the matter. The Journal report echoes a recent report from Debtwire that said the company was in talks to secure debtor-in-possession financing, which serves a similar purpose for companies that are restructuring.
It is no secret that SunEdison has had a difficult year and a particularly difficult week. The company announced Thursday, via a filing with the Securities and Exchange Commission, that it received a subpoena from the Justice Department demanding information tied to its failed bid to acquire Vivint Solar (VSLR).
Perhaps more telling, however, was Tuesday's SEC filing from SunEdison's yieldco, TerraForm Global (GLBL). It said that due to its parent company's continued delays on filing its 10-K, it would have to delay filing its report as well. The filing also cited SunEdison's liquidity problems and said there was a "substantial risk" the company "would soon seek bankruptcy protection."
Representatives from SunEdison did not immediately respond to requests for comment.
For more on SunEdison's financial struggles, check out this timeline Real Money prepared last week.
