Coal Company Lays Off 260 Workers, Files for Bankruptcy

(stock image courtesy: Pixabay/Stafich Anatoly)

Listen to this story

Subscriber Benefit

As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe Now

This audio file is brought to you by

0:00

0:00

Loading audio file, please wait.

Speed
1.00

• 0.25
• 0.50
• 0.75
• 1.00
• 1.25
• 1.50
• 1.75
• 2.00

Falling demand for U.S. coal, plus the economic challenges associated with the coronavirus pandemic, are taking a toll on Indiana’s coal industry.

Evansville-based White Stallion Energy LLC this week filed for Chapter 11 bankruptcy and laid off all 260 employees.

Our partners at WEHT-TV report the coal company owns six coal mines in southwest Indiana and southeast Illinois.

According to court records, the company applied for $10 million in federal COVID-related aid and hopes to have the loan forgiven.

The station reports the company intends to rehire 24 workers to help it through bankruptcy.