The slow death of the American coal industry has forced Murray Energy, the largest private coal miner in the United States, to file for bankruptcy protection Tuesday.
Murray Energy's bankruptcy has been telegraphed for years. It recently failed to make payments to lenders, and the company entered into a forbearance agreement that bought it time to negotiate a restructuring. But that grace period came and went, and Murray Energy was unable to pay its bills. S&P Global Ratings downgraded the company's credit rating to "default" earlier this month.
The coal company formed a restructuring agreement with some of its lenders, representing about 60% of Murray's $1.7 billion in liabilities. The company announced Tuesday it has received $350 million in credit to keep its business operational through bankruptcy.
Murray Energy: America's largest private coal miner files for bankruptcy - CNN
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Gotta Love the Stupid Coal Miners.
Well, that's why they dig coal as unemployable in a real job.
These people actively work again Amerca.
So, Flip them burgers well for 8 hours a day.
Make the family proud losers. As flipping burgers
will be a step up from being a MAGA uneducated Coal Miner loser LOL!
BYW: Some burger shop are offering schooling matching funds to get you
GDE or more. Flip well and quicky, a bun is waiting on you.
So DOPer Tweet Call the Great Douche to save the miners.
But isn't this what the coal companies always do? File bankruptcy to avoid paying for their worker's healthcare and pensions. Then open up under a new name, start all over and when the bills get high, file bankruptcy again,
Rinse and Repeat.
Kentucky - GOP's finest. Brought to you by Moscow Mitch.
Was Murray the company being blocked from moving their coal by the unpaid miners sitting on the tracks?
Because the workers healthcare and pensions were and still are unsustainable.
Just like their big promise of universal health care and free colleges.
That will bankrupt America.