- WORLD EDITIONAustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Alpha Natural Resources (OTCMKTS:ANRZ) is planning to file for bankruptcy as soon as Monday, Bloomberg reported. Three people with direct knowledge of the matter told the news outlet that Alpha is considering such measures in light of weak metallurgical coal prices.
Alpha Natural Resources (OTCMKTS:ANRZ) is planning to file for bankruptcy as soon as Monday, Bloomberg reported. Three people with direct knowledge of the matter told the news outlet that Alpha is considering such measures in light of weak metallurgical coal prices.
As quoted in the publication:
The company’s senior lenders including Citigroup Inc. and Davidson Kempner Capital Management plan to provide a loan to fund the company through bankruptcy, said the people, who asked not to be named because the discussions are private. The company is in talks with the creditors over a plan that would include shutting mines, two of the people said. The conversations continue and the court would have authority over such actions during Chapter 11 proceedings.
Bristol, Virginia-based Alpha Natural would follow rivals Walter Energy Inc., Patriot Coal Corp. and James River Coal Co. in filing for bankruptcy during the past 15 months as met coal prices dropped 72 percent since 2011.
Alpha Natural, despite reporting $1.8 billion in cash and available credit at end of March, hasn’t turned in a profit since 2010, according to data compiled by Bloomberg.
Latest News
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.Â