Walter Energy Inc. filed for bankruptcy protection yesterday, becoming the latest coal miner to do so as they struggle with a steep fall in prices since 2011, Reuters reported yesterday. The company said that only its U.S. units have filed for a pre-packaged chapter 11 protection, and that operations in Canada and the UK are not included in the filings. Walter Energy, which has coal mines in Alabama and West Virginia, said terms of the restructuring assume senior lenders will convert all of their debt into equity. The Birmingham, Ala.-based company also said it had enough cash to assure that vendors and suppliers would be paid during the reorganization process.
