May 14, 2019 / 1:48 AM / 11 days ago

Bankrupt coal producer Cloud Peak proposes auction in June

Cloud Peak Energy Inc said on Monday it aims to sell itself at auction in June after filing for bankruptcy on Friday amid a cash crunch stemming from sustained low prices for its thermal coal and harsh weather hitting mines and disrupting coal shipments.

The operator of surface mines in Wyoming and Montana in a motion in U.S. Bankruptcy Court in Delaware proposed June 26 as an auction date with bids due on or before June 21.

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