Arch May File for Bankruptcy in `Near Term' as Debt Mounts
- Coal miner needs `significant restructuring': Chief Executive
- Company is terminating its $250 million revolver as of Nov. 11
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Arch Coal Inc. said it may file for bankruptcy in the “near term” as the company’s cash flow can’t sustain its $5.1 billion in debt.
The company is in talks with creditors over a "significant restructuring" of its balance sheet, St. Louis-based Arch said in a filing Monday with the U.S. Securities and Exchange Commission. The company may file for relief under Chapter 11 whether it strikes a deal with creditors or not.