PetersenDean, a California-based regional roofing, solar and battery company with operations in six states has filed for debt relief under chapter 11 of the United States bankruptcy code, according to the website of corporate restructuring/chapter 11 agent, Epiq Guidance.
On June 11, 2020, Red Rose, Inc. d/b/a Petersen-Dean and fifteen of its affiliates (collectively, the “Debtors”) each filed a petition in the U.S Bankruptcy Court for the District of Nevada seeking relief under chapter 11 of the U.S Bankruptcy Code. The debtor’s counsel is Fox Rothschild.
The related debtors include Beachhead Roofing & Supply, California Equipment Leasing Association, Fences4America, Roofs 4 America, Solar 4 America, Tri Valley Supply and TD Venture Fund.
The company announced on its website, “We are temporarily not offering quotes for Solar, Energy Storage, Fencing and HVAC at this time. Please check back in the near future as our state begins to re-open businesses to the public. We look forward to fulfilling your Solar, Energy Storage, Fencing and HVAC needs in the future. WE ARE STILL OPEN FOR YOUR ROOFING NEEDS.”
Although this move is surely virus-related, PetersenDean has seen its share of recent business challenges, according to people familiar with the firm.
PetersenDean came to solar from the roofing world and has long been a lower top-ten U.S. solar installer with a multi-state regional practice. The company was the eighth-largest U.S. residential installer in 2017 and acquired Hawaii’s Haleakala Solar in 2018.
We’ve asked PetersenDean executives for comment and will update the article when the company responds.
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