Peabody Coal Files for Bankruptcy
NEW YORK (AP) - Peabody Energy, the nation's largest coal miner, is seeking bankruptcy protection.
The filing comes less than three months after another from Arch Coal, the country's second-largest miner, which followed bankruptcy filings from Alpha Natural Resources and Arch Coal.
New energy technology and tightening environmental regulations have throttled the industry and led to a wave of mine closures and jobs cuts.
Peabody Energy Corp., based in St. Louis, filed for Chapter 11 bankruptcy protection Wednesday in the United States Bankruptcy Court for the Eastern District of Missouri.