Patriot Coal Corp., the miner that emerged from bankruptcy two years ago, is exploring options to sell itself as prices for its commodity stagnate in the worst downturn in decades, Bloomberg News reported yesterday. The coal company hired investment bank Centerview Partners LLC and restructuring advisory firm Alvarez & Marsal Inc. to help it examine reorganization options that include selling some or all of its assets. Patriot, based in Scott Depot, West Va., emerged from bankruptcy on Dec. 18, 2013, slashing its debt to $545 million from $3.07 billion. Patriot announced the resignation of Chief Executive Officer Bennett K. Hatfield earlier this month and promoted Robert W. Bennett to the position.
