Post by Logan on Mar 20, 2016 1:18:39 GMT -6
There’s a real possibility that every publicly traded coal company in the St. Louis region could wind up in bankruptcy court this year.
Just last week, Peabody Energy and Foresight Energy both disclosed they may have to file for Chapter 11 protection as heavy debt loads weigh them down amid a long industry slump.
They would join Creve Coeur-based Arch Coal, which filed for bankruptcy protection in January. And Patriot Coal Corp., formerly based in Creve Coeur, sold itself off in pieces after filing for bankruptcy a second time in 2015.
For an industry that has long made St. Louis its corporate home, things aren’t looking good.
Read more: www.stltoday.com/business/local/corporate-coal-hub-of-st-louis-faces-more-big-bankruptcies/article_0e571cad-bf0f-5fb7-9c40-054e79dfe57a.html
Just last week, Peabody Energy and Foresight Energy both disclosed they may have to file for Chapter 11 protection as heavy debt loads weigh them down amid a long industry slump.
They would join Creve Coeur-based Arch Coal, which filed for bankruptcy protection in January. And Patriot Coal Corp., formerly based in Creve Coeur, sold itself off in pieces after filing for bankruptcy a second time in 2015.
For an industry that has long made St. Louis its corporate home, things aren’t looking good.
Read more: www.stltoday.com/business/local/corporate-coal-hub-of-st-louis-faces-more-big-bankruptcies/article_0e571cad-bf0f-5fb7-9c40-054e79dfe57a.html