Blackjewel Seeks to Liquidate Assets Instead of Reorganizing
CHARLESTON, W.Va. (AP) — A bankrupt coal company is seeking permission to liquidate its assets instead of reorganizing them.
The Herald-Dispatch reports a hearing in the Blackjewel coal company case is set for Dec. 17 in the U.S. Bankruptcy Court for the Southern District of West Virginia.
The company filed for Chapter 11 reorganization bankruptcy in July 2019 and all but completely shut down operations, which put about 600 employees in Wyoming and 1,100 in Appalachia out of work.
The motion filed on Nov. 25 said the company doesn't have the money to continue the Chapter 11 process, noting that virtually all assets and operations have been sold.