Swiss solar manufacturer Meyer Burger has closed its Goodyear factory and laid off all of its 282 remaining employees, citing a lack of funding to continue operations.

The announcement came May 29, just days after the company filed a WARN notice with the state on May 22, stating that a total of 355 workers would be affected. The facility at 1685 S. Litchfield Road had been gearing up to produce solar panels but is now shut down. The future of the site is uncertain.

In a statement, Meyer Burger said it was “forced to stop its solar module production in the U.S.” due to financial constraints. The plant, which was designed to produce enough panels to generate up to 1.4 gigawatts of electricity annually, ceased operations immediately.

The layoffs in Arizona are part of a larger financial crisis facing the company, which is seeking to restructure its debt. Meyer Burger is in discussions with a group of creditors about two loans due in 2027 and 2029. Meanwhile, the company’s German subsidiaries have filed for insolvency, similar to bankruptcy, after attempts to save those sites failed.

In Germany, two major facilities are affected: a solar cell plant in Thalheim that employs 331 people and a mechanical engineering site in Hohenstein-Ernstthal with 289 workers.

The company’s Swiss facility in Thun, with about 60 employees, remains open for now.

The Goodyear factory had been part of Meyer Burger’s push to expand into the U.S. solar market using a newer type of panel technology. But with financial troubles mounting, the company said it can no longer keep the operation running.

The company stated it will release more information as it becomes available.

Visit meyerburger.com for more information.