Peabody Energy Files For Bankruptcy

St. Louis — The world’s largest privately owned coal company is filing for bankruptcy. St. Louis-headquartered Peabody Energy Corporation, which owns and operates several southern Illinois mines, filed for U.S. bankruptcy protection early this morning after a steep decline in coal prices made it unable to pay debts from its recent expansion into Australia. Court papers list Peabody’s assets and liabilities at ten to 50-billion-dollars.