Fortune 500 coal company Peabody Energy has filed for Chapter 11 bankruptcy protection on Wednesday, becoming the latest North American coal casualty amid a sustained industry downturn.
NYSE-listed Peabody, the world’s largest private-sector coal company producing metallurgical and thermal coal for customers in 25 countries on six continents, had voluntarily filed petitions under Chapter 11 for the majority of its US entities in the US Bankruptcy Court for the Eastern District of Missouri.
