Coal Company Lays Off 260 Workers, Files for Bankruptcy

(stock image courtesy: Pixabay/Stafich Anatoly)

Falling demand for U.S. coal, plus the economic challenges associated with the coronavirus pandemic, are taking a toll on Indiana’s coal industry.

Evansville-based White Stallion Energy LLC this week filed for Chapter 11 bankruptcy and laid off all 260 employees.

Our partners at WEHT-TV report the coal company owns six coal mines in southwest Indiana and southeast Illinois.

According to court records, the company applied for $10 million in federal COVID-related aid and hopes to have the loan forgiven.

The station reports the company intends to rehire 24 workers to help it through bankruptcy.