Armstrong Energy Inc. said in mid-August it was facing a possible bankruptcy filing as the small Illinois Basin steam coal producer continues to experience operating losses and the inability to repay an interest payment.
The St. Louis-based parent company of Armstrong Coal, which mines in western Kentucky, recorded a net loss of $17.2 million in the second quarter, up from a net loss of $15 million a year earlier, although total revenue actually was a bit higher at $60.9 million. Total assets including cash and cash equivalents dipped to $74.1 million at the end of June from nearly $90 million a year ago.
