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Cambrian Coal Files for Chapter 11 Bankruptcy

Coal News - Published on Tue, 13 Aug 2019

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Lexington Herald-Leader reported that Cambrian Coal LLC plans to auction off most of its assets next month, if it gains court approval. Court documents show the company’s president Mark Campbell says the bankruptcy is mostly due to Cambrian buying assets from other coal companies and a decline in the coal industry.

Cambrian CEO Jim Booth resigned about two weeks before the bankruptcy filing.

Nearly 700 people are employed by Cambrian at three major mining operations in eastern Kentucky and Virginia.

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Posted By : Rabi Wangkhem on Tue, 13 Aug 2019
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