bankrupcty

Business
4:39 pm
Tue December 17, 2013

Patriot Coal To Emerge From Bankruptcy

Flickr/Paul Sableman

St. Louis-based Patriot Coal announced Tuesday that a federal bankruptcy judge has approved the company’s reorganization plan, clearing the way to come out of bankruptcy.

Patriot officials said the company will close on its exit financing and emerge from Chapter 11 Wednesday.

The company filed for bankruptcy in July, 2012. At the time, Patriot cited a low demand for coal and big costs for retiree benefits.

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