(Gillette, Wyo.) Last month we reported that
the Peabody Energy Corporation was at risk of filing for bankruptcy after
being unable to make interest payments. This morning they announced they
will be voluntarily filing Chapter 11 petitions to "strengthen liquidity
and reduce debt."
"This was a difficult decision, but it is the right path forward for
Peabody,” said President and CEO Glenn Kellow.
The company expects that despite filing for bankruptcy, they will continue
to be able to pay employee wages and healthcare benefits without
"All of the company’s mines and offices are continuing to operate in the
of business and are expected to continue doing so for the duration of the
process," Peabody said in a statement.
Peabody also announced today that the planned sale of the company’s New
Colorado assets was terminated after the buyer was unable to complete the
They have established a call center for questions: 866-967-1783.
#county17 #news #bootstrapped #dally