Cloud Peak files for bankruptcy
May 16, 2019
GILLETTE — Cloud Peak Energy’s bankruptcy filing Friday afternoon may be the beginning of the end for the Gillette-based coal producer.
Unlike previous Powder River Basin coal bankruptcies, Cloud Peak seems to be looking to shed debt and sell its assets rather than emerge as an ongoing company.
The company said it will continue to attempt to sell “all of its assets” and that the company expects its three PRB mines “will continue normal operations throughout the process.”
The filing ends months of speculation about Cloud Peak’s shaky financial footing, including failing to make...