Coldwater Creek Bankruptcy
Insiders at Coldwater Creek clothing company are predicting that the company will file for bankruptcy soon. The company has been struggling for some time. Employees hope to know more by the middle of this week.
Read more from Bonner County Daily Bee.com:
Uncertainty is rising and stock prices are falling at Coldwater Creek as business reporters and insiders are predicting the company will soon file for bankruptcy.
In an article published March 31, The Wall Street Journal reported that the Sandpoint-based women’s clothing retailer was preparing to file bankruptcy-court protection in light of its many financial struggles. The information originated from unnamed sources identified only as “people familiar with the matter.”
PSB Instory April 2013
The questions only increased Monday when Bloomberg News published an article indicating officials are planning to liquidate its assets after a bankruptcy filing is complete. The news publication also attributed its information to unnamed sources. Continue reading…
James River Coal Co. Bankruptcy
James River Coal Co. filed for bankruptcy this week. This is the second time the company has claimed bankruptcy. The company listed $818.7 million in debt.
Read more from Bloomberg:
James River Coal Co. (JRCC), a mine operator in the U.S. Midwest and Appalachia, filed for bankruptcy for a second time, listing $818.7 million in debt, after declining prices caused it to idle a dozen mines.
Booming natural gas output from shale rock in recent years has spurred some electric utilities to switch to using gas. Meanwhile, rising Australian output of metallurgical coal, which is used in steelmaking, has helped create a global surplus and depressed prices.
“The coal markets in the U.S. have changed dramatically during the past several years,” Chief Executive Officer Peter Socha said in a statement yesterday, citing environmental regulations and improved methods to produce gas. Continue reading…