A Westmoreland spokesperson said the company will refinance an existing $110 million bridge loan to support its operations during the restructuring, and doesn't anticipate any layoffs of its nearly 3,000 employees. The company has mines in Canada and in Montana, North Dakota, Ohio, Texas, Wyoming, and New Mexico. It is based in Colorado.
"The filing for voluntary Chapter 11 protection in U.S. Bankruptcy Court in Houston lists the Bureau of Indian Affairs and the Pension Benefit Guaranty Corp. among its 50 largest creditors with unsecured claims," Kohler reports. "Westmoreland has leases with the Crow Indian Tribe in Montana. The company reported about $770 million in assets."