Patriot Coal files for bankruptcy again

Patriot Coal Corp. has filed for bankruptcy for the second time in three years.

The coal producer and marketer, which in January relocated its headquarters from Creve Coeur to West Virginia, filed for Chapter 11 bankruptcy protection today in U.S. Bankruptcy Court. The company said it plans to review its alternatives and devise a “value-maximizing restructuring plan” as soon as possible.

Patriot, which was spun off from St. Louis-based Peabody Energy Corp. in 2007, previously filed for bankruptcy in July 2012. It emerged from that in December 2013.

Patriot listed more than $1 billion in assets and liabilities in its filing. The largest creditor listed was St. Louis-based Peabody Investments Corp., which has a claim of more than $4.8 million.

Read more from the St. Louis Business Journal

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