One of the Oldest Coal Companies in the U.S. Files for Bankruptcy
Westmoreland Coal Company based out of Englewood, Colorado, has filed for bankruptcy under Chapter 11. Westmoreland is one of the oldest coal companies in the country has more than $1.4 billion in outstanding debt and $770 million in assets.
Westmoreland has mines located in Montana, Wyoming, New Mexico, Ohio, North Dakota and Texas, and a coal-fired power plant in North Carolina.
With Westmoreland’s bankruptcy, this marks the fourth coal company to file for bankruptcy in three years which includes, Peabody Energy Corp., Arch Coal and Alpha Natural Resources.
Alexander Hernandez, Esq.
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