Peabody just filed for bankruptcy protection on Wednesday after it announced its situation the previous weeks. Assets in Mexico and Colorado will no longer be sold as buyer was not able to complete the deal.
Besides suffering from acute cash crunch SunEdison has been facing scrutiny from regulators over failed Vivint deal and other issues. Huge debt burden has led the renewable energy giant to consider for seeking bankruptcy protection and is holding negotiations for related financing. The news has caused slashing share prices by around 50% during after hours trading on Friday.
SunEdison is about to file bankruptcy protection to safeguard itself from creditors while trying to recover from its losses while it continues to operate. At the same time it is being investigated by the Securities and Exchange Commission over possible overstating.
U.S. coal industry is facing tough times as one by one files Chapter 11. Due to high debts, decline in demand and stricter regulations, most have no other choice but to shut down. Lately, Peabody Energy announced that it may go bankrupt.
Peabody is facing difficulties as it shares declined sharply the past year. It is considering to file Chapter 11 sooner or later to protect it from creditors while restructuring the company and recovers from the large loss.
Series of bankruptcy decisions indicates the decaying market stake of coal industry and Peabody appears as the latest to file chapter 11 with the New York Stock Exchange. Many coal mining companies are still operating with profits. So warning of bankruptcy by the world’s largest private coal miner doesn’t indicate possible extinction of the coal industry.
Brookstone Inc. filed with US regulators in Delaware Chapter 11 bankruptcy protection to be able to push through a deal with Spencer Spirit Holdings Inc.
The first Gulf region company that would come out of bankruptcy places many Western courts at a quandary on Islamic finance.
Edge Products, the manufacturer of high quality parts for vehicle manufacturers, recently filed for Chapter 11 bankruptcy protection.
Rural/Metro Corp. filed for Chapter 11 bankruptcy protection at the U.S. Bankruptcy Court in Wilmington, Delaware on Sunday.
Cengage Learning Inc filed Chapter 11 bankruptcy protection after a buyout led by Apax Partners LLP.
THQ bankruptcy court to supervise asset sale.
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