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.