More than 100 people working for Armstrong Coal in Ohio County, Kentucky, will be out of a job just before Christmas. The company issued a WARN notice to workers Friday. The company plans to close its Equality Mine near Centertown and its nearby dock facility. It says market overproduction and and low demand for high sulfur coal lead to the decision. The layoffs are expected to be complete by December 22.
Armstrong Coal also announced it has reached an agreement in principle on what it calls a balance sheet restructuring with holders of approximately $156 million in aggregate principle. Part of that agreement includes a new royalty agreement related to mineral rights.
Armstrong Coal operates five coal mines in Ohio and Muhlenberg counties.