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Peabody Goes Bankrupt
April 14, 2016
Peabody Energy, the world's largest privately owned coal company, filed for bankruptcy with $6.3 billion of debt. The company claims that the reasons for their filing are the increasing regulatory challenges and consumption of natural gas. However, shares of the company fell 75 percent this year due to the declining demand and price of coal. Now, is the company going to take responsibility for workers, affected communities, and mine clean-ups?