News
Decker Coal parent company files for Chapter 11 bankruptcy
Published
4 years agoon
By
Pat Blair
Lighthouse Resources Inc., the Utah-based parent company of the Decker Coal Company, has filed for restructuring under Chapter 11.
Sheridan Media has been unable to reach anyone at Decker Coal, but the company’s voice recording at the plant confirmed the filing.
Lighthouse Resources and 13 affiliates filed the voluntary petition Wednesday night and Lighthouse has reportedly laid off 76 employees, nearly half of the company’s workforce at the Decker mine. Many of those employees live in Sheridan County.
According to the company’s website, court-supervised operations will continue at reduced levels at Decker upon approval by the court. Lighthouse Resources has a joint venture interest in Black Butte Coal Company in Wyoming, but Black Butte hasn’t filed a Chapter 11 petition and will continue with normal operations.
Everett King, chief executive officer of Lighthouse, cited challenging marketing conditions and other impacts on the company from COVID-19 as necessitating the filing.
The company has filed a number of customary motions seeking court authorization to support business operations during the court-supervised process, including payment of employee wages, salaries and health and disability benefits.
Mitch Smith
December 3, 2020 at 3:21 pm
What if i told you before the election, that a vote for biden was a vote against coal? What if i told you that this is the new normal? What if i told you to mask-up and take the vaccine, and everything will be alright? Get ready folks, the great reset is about to start. (And you thought 2020 was bad…..) And there was no fraud in the election? Lol!
Fred Osborn
December 4, 2020 at 8:18 am
Drink much kool aid?
mark steingass
December 4, 2020 at 11:59 am
mitchum…if coal was competitive with natural gas the market would be different…fracking pulled the rug out from under coal…7 million plus votes is a “reset”
Dean Seever
December 3, 2020 at 3:50 pm
The CEO probably got a bonus for saving money by laying off those folks. Yet again, the average people get screwed while the already rich get richer from plundering another sinking ship.
Fred Osborn
December 4, 2020 at 8:18 am
Some cannot see the forest for the trees. Blaming Biden for Decker Coal’s demise is ignorant..at best.Just who’s watch is all this coal downturn on? As for a “rigged election” that is straight out of Newsmax.
Mike Arzy
December 5, 2020 at 11:24 am
Fred, the down turn actually had the seeds planted several prestdents ago with clinton/gore. Then obama really put the screws to fossil fuels while lining his own pockets with wind and solar energy at tax payer’s expense. That stuff is all out there if you look with an open mind.