Tag: bankruptcy

Clayton-based energy company may go bankrupt

Clayton-based Armstrong Energy is considering filing for Chapter 11 bankruptcy due to “recurring losses from operations”. In a quarterly report that was filed on Friday, the company reported $17.2 million loss on revenue of $60.9 million, which is a “substantial decline in cash flows from operating activities over the previous 24 months.” The report states that Armstrong Energy isn’t confident regarding their ability to continue as a business. “Our continuing operating losses, negative cash flow projects, […]