Home | About | Donate

“The Biggest Coal Giant has Fallen”: Peabody’s Bankruptcy Sends Clearest Signal of Coal Industry’s Deep Decline


#1

“The Biggest Coal Giant has Fallen”: Peabody’s Bankruptcy Sends Clearest Signal of Coal Industry’s Deep Decline

WASHINGTON - In the latest and possibly most significant news about the global coal industry’s continuing decline, Peabody Energy, Inc., the world’s largest private-sector coal company, announced that it has filed for bankruptcy today. A sustained downturn in both domestic and international coal markets had left the company saddled with enormous debts and no realistic hope of paying them back, leading the company to seek protection from its creditors.

###