Aug 5 (Reuters) - Solar firm SunPower said on

Monday it filed for Chapter 11 bankruptcy in the United States

and entered into a 'stalking horse' agreement with Complete

Solaria ( CSLR ) to sell some of its business for $45 million in

cash.

A stalking horse bid is used as a starting or minimally

accepted offer that other interested bidders must surpass if

they want to buy the asset or the company.

California-based Complete Solaria ( CSLR ), a solar technology,

services, and installation company will acquire SunPower's Blue

Raven Solar business, New Homes business, and non-installing

Dealer network.

SunPower had acquired Blue Raven for $165 million in 2021.

The company listed its assets and liabilities in the range

of $1 billion to $10 billion, in a filing with the bankruptcy

court in Delaware, court papers filed on Monday showed.

Additionally, SunPower said it intends to continue a sale

process for its remaining assets. The California-headquartered

company said that following the sale process it plans to

liquidate any remaining assets and undergo an efficient wind

down of its operations.

Earlier this year, SunPower said it planned to reduce its

workforce by about 1,000 people and planned to wind down its

SunPower Residential Installation locations and close SunPower

Direct sales.