Latest Corporate bankruptcy News

Barneys New York evaluating restructuring options

Jul. 16, 2019 4:20 PM EDT

NEW YORK (AP) — Barneys New York may soon join the ever lengthening list of retail stores seeking protection in bankruptcy. The luxury clothing company, faced with high rents and a shifting consumer landscape, is evaluating options that may include a bankruptcy filing. That's according to a source close to...

State officials update Idaho's 50-year-old mining laws

Jul. 16, 2019 3:55 PM EDT

BOISE, Idaho (AP) — State officials on Tuesday approved a rewrite of Idaho's 50-year-old mining law, but they still have work to do. Republican Gov. Brad Little and other members of the Idaho Land Board voted to adopt rules intended to give mining companies the financial leeway to mine but also avoid...

Kentucky coal company files for bankruptcy

Jul. 16, 2019 11:33 AM EDT

LEXINGTON, Ky. (AP) — A coal company with mines in Kentucky and West Virginia has filed for Chapter 11 bankruptcy. Blackhawk mining says in a release that the restructuring will allow it to eliminate more than 60 percent of its debt. The company has 10 mining complexes and mines metallurgical coal, which...

Priest donates to miners affected by Blackjewel bankruptcy

Jul. 15, 2019 8:45 PM EDT

HARLAN, Ky. (AP) — A priest in Kentucky handed out more than $20,000 on Monday to miners struggling to pay bills after the coal company they work for filed for bankruptcy protection. People crowded Holy Trinity Catholic Church in Harlan as Father Jim Sichko signed checks for more than 100 miners who are...

Cloud Peak Energy hires laid-off miners from Blackjewel

Jul. 15, 2019 3:21 PM EDT

GILLETTE, Wyo. (AP) — Dozens of coal miners who were put out of work by Blackjewel's bankruptcy have been hired by another bankrupt mining company in Wyoming, company officials said. Cloud Peak Energy officials said about 60 former Blackjewel LLC employees will start work Tuesday at its Cordero Rojo and...

California backs effort to boost utilities during wildfires

Jul. 11, 2019 6:50 PM EDT

SACRAMENTO, Calif. (AP) — California lawmakers approved a multibillion-dollar plan Thursday to shore up the state's biggest electric utilities in the face of catastrophic wildfires and claims for damage from past blazes caused by their equipment. It requires major utilities to spend at least $5 billion...

California cities say bill harms plans for public utilities

Jul. 10, 2019 8:37 PM EDT

SACRAMENTO, Calif. (AP) — With Pacific Gas & Electric Corp. in bankruptcy amid billions of dollars in wildfire liability claims, some California cities are considering buying off pieces of the utility's assets and running parts of the power system on their own. But new legislation aimed at bringing...

Miners worried about pay during Blackjewel coal bankruptcy

Jul. 10, 2019 4:58 PM EDT

ROANOKE, Va. (AP) — Some Virginia miners for the coal company Blackjewel LLC say their paychecks are bouncing and they remain out of work as the company goes through bankruptcy proceedings. The Roanoke Times reports some workers say they're unsure if they still have jobs after reportedly being asked to...

Blackjewel seeking funds to reopen Wyoming coal mines

Jul. 9, 2019 12:28 PM EDT

CASPER, Wyo. (AP) — Attorneys for Blackjewel say the bankrupt coal company continues to seek funding to reopen two large coal mines in Wyoming. The Eagle Butte and Belle Ayr mines have been closed since July 1. The Milton, West Virginia-based company is in Chapter 11 bankruptcy and hundreds of Wyoming...

California Senate OKs wildfire proposal with bipartisan vote

Jul. 8, 2019 11:03 PM EDT

SACRAMENTO, Calif. (AP) — California senators approved a proposal Monday aimed at stabilizing the state's electric utilities and putting a renewed focus on safety in the face of devastating wildfires caused by utility equipment, with supporters calling it a plan that holds utilities accountable and...