Coal companies that have filed for bankruptcy during Trump presidency

Last Modified: Sat Oct 20 2018 18:03:19 GMT+0530 (India Standard Time)
  • 09 Oct 2018
    Westmoreland Coal Company, one of the oldest mining companies in the country, files Chapter 11 bankruptcy in a Texas court. In the next four years, a slew of major coal-fired power plants in the Ohio Valley - a major area where the company serves - are expected to shut down, including its largest customer American Electric Power (14% revenue). The company will continue normal operations through the bankruptcy case by using cash collateral and does not expect to lay off workers at this time.
  • 14 Oct 2018
    Tennessee coal mining company - Mission Coal - files for Chapter 11 bankruptcy protection. The company was able to deliver just 1/3 of the 6.5 million tons annual target due to "adverse mining conditions, combined with rail and port disruptions". It owes around $100 million to its bankers and $72 million to a group of more than 50 creditors, including nearly $10 million in pension and health benefits to the United Mine Workers of America. About 800 workers and as many retirees would be affected by the bankruptcy.