US coal miner Murray Energy files for bankruptcy

The company and its subsidiaries have agreed a deal with a group of lenders to receive $350 million (£272m) to stay open throughout the process

Coal mine

Murray Energy, the largest privately-owned coal miner in the US, has filed for bankruptcy protection.

The company and its subsidiaries operating coal mines in Kentucky, Ohio, Utah and West Virginia have agreed a deal with a group of lenders to receive $350 million (£272m) to stay open throughout the process.

The news comes as businesses are choosing energy sources other than coal to generate electricity as they commit to contributing towards a low carbon future.

Murray Energy and its subsidiaries have around 7,000 employees and operate 17 active mines.

Robert D. Moore, Named President and CEO said: “We appreciate the support of our lenders for this process, many of whom have been invested with the Company for a long time.

“Although a bankruptcy filing is not an easy decision, it became necessary to access liquidity and best position Murray Energy and its affiliates for the future of our employees and customers and our long term success.”

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