Coal Mogul Murray Says More Bankruptcies Probable

The owner of the largest closely held U.S. coal producer said more of his competitors are likely to go bankrupt because there’s “nothing on the horizon” to suggest demand and prices will recover.

“Some companies have been totally erased by bankruptcy or significant liquidity problems, and other probable company financial failures have been identified by us,” Robert E. Murray said today in a speech at an industry conference in Pittsburgh organized by Platts. He declined to identify companies that may be at risk.