The owner of a North County solar panel sales and installation company has filed for Chapter 7 bankruptcy.
Mark G. Miller, who operated A.M. Sun Solar in Atascadero, cited $22,000 in assets and $891,771 in liabilities in the Sept. 25 corporate filing.
Under Chapter 7 of the federal bankruptcy code, a trustee is appointed to sell a company’s assets and distribute proceeds to creditors.
A new business with a nearly identical name — A.M. Sun Solar Inc., in Atascadero — is now run by Miller’s former employee, Cory Howe of Paso Robles. Howe started the business and took on all of Miller’s clients in 2011, when Miller moved to Australia.
“We have been cash positive since the beginning,” Howe said about taking over Miller’s business project and growing it. “I just wanted to keep the credibility of the same name. I already know all his old clients, which is nice,” Howe said.
Miller could not be reached for comment. Miller’s largest debts, as listed in his bankruptcy filing, are real estate loans.
Howe declined to comment on the details of Miller’s departure from the solar business but said that the real estate collapse in 2008 affected Miller, “just like everyone else,” Howe said.