"Coal company pain accelerates as bankruptcy cases rise": Bloomberg.

Bloomberg: “The coal business, after fueling the Industrial Revolution and powering U.S. growth for much of the past century, is now beset by a glut of cheap natural gas and tighter regulation.”
James River Coal Co. (JRCCQ) in many ways epitomizes these ills. After filing for bankruptcy almost four months ago with plans to sell its business, the Richmond, Virginia-based company has delayed an auction twice without announcing a buyer.
Lower prices, rising competition and oversupply have taken their toll on coal, cutting profits and pushing a number of companies to the brink of insolvency.
“Even assuming some level of modest price recovery, these companies are still burning cash for the foreseeable future,” Kuni Chen, an analyst at UBS AG (UBSN) in New York said in an interview. “There’s plenty of cash and liquidity to support that for a few years. But if this continues more than that, some companies will be close to bankruptcy.”