Walter Energy Inc. is preparing to file for bankruptcy protection this week after agreeing on a fast-track restructuring process that would hand ownership of the coal miner to senior creditors, according to people familiar with the matter.
The New York Stock Exchange announced today that the staff of NYSE Regulation, Inc. has determined to commence proceedings to delist the common stock of Walter Energy, Inc. (the "Company") - ticker symbol WLT - from the NYSE. Trading in the ...
Coal miners sank as a slump in coal prices worsened. Walter Energy, Inc. (NYSE:WLT), Arch Coal Inc (NYSE:ACI), Peabody Energy Corporation (NYSE:BTU) and Alpha Natural Resources, Inc. (NYSE:ANR) all declined sharply following coal prices lower.
Walter Energy Inc. is negotiating a debt restructuring with senior lenders that may put the unprofitable coal producer into bankruptcy as soon as this month, according to two people with knowledge of the discussions.
Walter Energy, Inc. (NYSE:WLT) has lost 0.97% during the past week and dropped 58.78% in the last 4 weeks. The shares are however, negative as compared to the S&P 500 for the past week with a loss of 0.56%.
Walter Energy Inc.'s senior-most creditors are entering confidential talks with the coal miner to reorganize it in bankruptcy court and hand ownership to the lenders, according to two people with direct knowledge of the matter.