Skip to content
  • About the Project
  • Meet the Team
  • Partners
Support Us
  • Support Us
  • Inside Energy
  • Inside Energy
  • Home
  • Podcast
  • Audio
  • Video
  • Data
  • Educators
  • IE Questions
  • IE Investigations
    • Energy According To Trump
    • Protesting The Pipeline: Standing Rock And The Dakota Access Pipeline
    • Your Natural Gas Boom Is Leaking
    • Feasting On Fuel
    • Reclamation Blues: The Lingering Legacy Of Fossil Fuels
    • Blackout: Reinventing The Grid
    • Denmark’s Road To Renewables
    • The Future Of Coal
    • The Fallout From Falling Oil Prices
    • The Oilfield Spill Problem
    • Energy And The New Congress
    • Boom 2.0
    • Dark Side Of The Boom
    • The Solar Challenge
    • The Pipeline Network
    • Coal Watch
  • Newsletter
  • Support Us
  • Get To Know Us
    • About the Project
    • Meet the Team
    • Partners

Inside Energy - Bringing energy reporting down to Earth

Inside Energy (https://insideenergy.org/2016/03/16/peabody-warns-it-may-file-for-bankruptcy/)

  • Home
  • Podcast
  • Audio
  • Video
  • Data
  • Educators
  • IE Questions
  • IE Investigations
    • Energy According To Trump
    • Protesting The Pipeline: Standing Rock And The Dakota Access Pipeline
    • Your Natural Gas Boom Is Leaking
    • Feasting On Fuel
    • Reclamation Blues: The Lingering Legacy Of Fossil Fuels
    • Blackout: Reinventing The Grid
    • Denmark’s Road To Renewables
    • The Future Of Coal
    • The Fallout From Falling Oil Prices
    • The Oilfield Spill Problem
    • Energy And The New Congress
    • Boom 2.0
    • Dark Side Of The Boom
    • The Solar Challenge
    • The Pipeline Network
    • Coal Watch
  • Newsletter
Coal

Peabody Warns It May File For Bankruptcy

By Leigh Paterson | March 16, 2016
More
  • More on Coal
  • Subscribe to Coal

imagesIn financial documents filed this week, one of the largest coal companies in the world warned that it may file for bankruptcy, in part, because the company may not be able to make upcoming debt payments.

Just this week, Peabody Energy missed around $70 million dollars worth of interest payments and instead chose to take advantage of a 30-day grace period.

“As a result of operating losses and negative cash flows from operations and our election to exercise a 30-day grace period with respect to certain interest payments…we may not have sufficient liquidity to sustain operations,” Peabody wrote in the filing.

The company is in negotiations with its lenders on debt payments, and is attempting to reduce its liabilities by selling mines in New Mexico and Colorado. But these deals could fall through.

“If we are not able to timely, successfully or efficiently implement the strategies that we are pursuing to improve our operating performance and financial position, obtain alternative sources of capital or otherwise meet our liquidity needs, we may need to voluntarily seek protection under Chapter 11 of the U.S. Bankruptcy Code,” Peabody wrote.

Peabody is not the only coal company in financial trouble. Both Arch Coal and Alpha Natural Resources have declared bankruptcy over the past year.

More
  • More on Coal
  • Subscribe to Coal

Related Series

Coal Watch

Coverage of the coal industry in transition, both spots and features.

Tags
  • Inside Energy News
  • Coal
  • Peabody Energy
  • Wyoming

Read Next

  • Arch Coal Paid Bonuses Days Before Bankruptcy

    Recent court documents show that Arch Coal paid executives more than $8 million in bonuses just days before the company declared bankruptcy.

Previous Post
Peabody Energy Announces Layoffs At Caballo and Rawhide Mines
Next Post
Making Up For A Methane Leak Disaster
Inside Energy is a collaborative journalism initiative of partners across the US and supported by the Corporation for Public Broadcasting
  • Inside Energy
  • About The Project
  • Meet The Team
  • Newsletter
  • Contact Us
  • Terms Of Use

Search This Site

Browse Archives

© Copyright 2025, Inside Energy

Inside Energy is a member of the Institute for Nonprofit News

Built with the Largo WordPress Theme from the Institute for Nonprofit News.

Back to top ↑