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Foresight Energy Files For Chapter 11, Latest US Coal Company To Go Under
Coal mining company Foresight Energy LP, already reeling as power plants shift to cheaper and cleaner sources of energy, filed for bankruptcy protection Tuesday, saying the global economic slowdown caused by the coronavirus epidemic helped push it over the edge.
The St. Louis-based company filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court in St. Louis, with a restructuring strategy supported by lenders holding more than 73% of the company's $1.4 billion in debt.
EDIT
https://www.wsj.com/articles/coal-supplier-foresight-energy-files-for-bankruptcy-citing-coronavirus-11583847199