Americas largest underground coal miner is headed for bankruptcy

Murray Energy didn’t make interest payments due yesterday

Murray Energy didn't make interest payments due yesterday
Coal isn’t back.
Murray Energy was granted extensions to renegotiate debt deals but they appear to have come up empty. Bloomberg reports that the company failed to make an interest payment due yesterday.
The failure of this company highlights the limited power of even the President of the United States in battling against economic forces. Many coal companies have already filed for bankruptcy, although none as big as Murray. The company employs nearly 7000 people and the largest underground coal miner in the United States.