** Shares of power and storage systems provider Sunworks

drop 53.2% to $0.10 premarket

** Stock set to hit record low at open if losses continue

** SUNW says it filed voluntary petitions for relief under Chapter 7 of the U.S. bankruptcy code after considering all strategic alternatives

** The authority and powers of the Board of Directors and executives of co will be eliminated, assets to be liquidated and claims paid per the bankruptcy code- SUNW

** SUNW saw a number of top executive exits over the past few months, including that of its CEO Mark Trout earlier in Feb

** Shares have fallen nearly 11% YTD up to the last close, after an 85% slump in 2023

(Reporting by Amruta Khandekar in Bengaluru)