Evansville energy company files for bankruptcy, 260 employees terminated

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EVANSVILLE, Ind. (WEHT) – An energy company that owns several coal mines based in Vanderburgh County has filed for bankruptcy.

Documents filed in U.S. District Court show White Stallion Energy filed for Chapter 11 bankruptcy on Wednesday.

The company had 260 employees. All of whom were terminated the day of the filing.

Court filings show the company expects to re-hire up to 24 employees to meet certain services.

White Stallion owns six mines. The four mines in Indiana are listed as Antioch, Billings, Shamrock, and Charger.

The two Illinois operations are listed as Friendsville and Eagle River.

Multiple employees of White Stallion have reached out to Eyewitness News stating they were told Wednesday their jobs were eliminated.

Court documents show a list of equity security holders in the company. 80% of the company is owned by White Stallion Energy. It reflects Steve Chancellor of Evansville at 16%. Around a half dozen other individuals from Indiana and Kentucky are listed with 1% or less of a stake.

We’ve reached out to White Stallion for comment and are currently waiting for a response.

(This story was originally published on December 3, 2020)

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