Peabody Energy Raises ‘Going Concern’ Doubts in Filing

Peabody Energy Corp. may not have enough liquidity to continue operating and said it may need to seek bankruptcy protection if it can’t raise additional capital.

“We may not have sufficient liquidity to sustain operations and to continue as a going concern,” the largest U.S. coal miner said in a 10-K filing on Wednesday.

The current plan to find other sources of capital and improve operating performance may not be successful and St. Louis, Missouri-based company said it may need to seek protection under Chapter 11 of the U.S. bankruptcy code.

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