White Stallion Energy files for bankruptcy, terminates all 260 employees
EVANSVILLE, Ind. — White Stallion Energy LLC, an energy company headquartered in Evansville, filed for Chapter 11 bankruptcy Wednesday and is terminating all employees.
Court filings show all 260 employees were terminated Wednesday, although the company plans to rehire up to 24 employees.
White Stallion energy cited the distress of the COVID-19 pandemic on the coal market as severely impacting the company.
Other American coal companies have shared similar concerns about the impact caused by COVID-19 on the industry. Bankruptcy filings show U.S. coal production in the second quarter of this year was the lowest it has been in almost 50 years.
Read more: https://www.courierpress.com/story/news/2020/12/03/white-stallion-energy-files-bankruptcy-terminates-all-employees/3811727001/
(Evansville Courier Press)