Clintwood JOD files for Chapter 11 bankruptcy

LONDON, Ky. — A Pike County mining company has filed for bankruptcy protection.

Clintwood JOD, LLC filed for Chapter 11 bankruptcy in the Eastern District of Kentucky, allowing the company to reorganize its debts while continuing operations.

The case comes after the company told an unspecified number of employees in February that way were being temporarily laid off, only to come back two weeks later and say that the layoff is permanent.

Court documents show the company reports assets between $100 million and $500 million, with liabilities ranging from $50 million to $100 million.

The filing lists between 200 and 999 creditors, with the largest claim totaling more than 26 million dollars. Several other creditors, including financial institutions and state agencies, are also owed millions, with more than $60 million owed to the 20 largest accounts.

According to the petition, the company does not expect any funds to be available for unsecured creditors after administrative expenses are paid.

The Chapter 11 filing allows Clintwood JOD to continue operating while it works through the bankruptcy process in federal court.

A copy of the bankruptcy petition follows: