BusinessGreen: Peabody Energy has today filed for Chapter 11 US bankruptcy protection, dealing a further blow to a global coal industry already reeling from low prices and tightening environmental regulations.
The company said it had secured $800m in debtor-in-possession financing from secured and unsecured creditors and stressed all its mines and offices will continue to operate throughout the bankruptcy process.
"Peabody believes that it has sufficient liquidity to operate its business worldwide post-petition...