World’s Largest Coal Company Files Chapter 11

St. Louis-based Peabody Energy, widely considered the largest coal company in the world, filed for Chapter 11 bankruptcy Wednesday, showing that even the most storied coal companies are not impervious to the coal industry’s downturn.

The company cited a slew of reasons for its decision, including the coal industry’s downward plunge in the energy market, stiff competition from natural gas producers, as well as economic slowdowns in China.

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