Peabody Energy files for bankruptcy protection

摘要

US-based coal producer Peabody Energy today filed for US federal bankruptcy protection. Peabody, the world’s largest private-sector coal mining firm, filed for Chapter 11 bankruptcy protection that will allow it operate while it reorganises and reduces more than $6bn in debt. “Through this process, the company intends to reduce its overall debt level, lower fixed charges, improve operating cash flow and position the company for long-term success, while continuing to operate under the protection of the court process.”