Coal mining bankruptcy hurts local businesses - WVVA TV Bluefield Beckley WV News, Weather and Sports

Coal mining bankruptcy hurts local businesses

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(WVVA) --  A local mining company is in a lot of trouble -- more than $120 million dollars of trouble. 

Frasure Creek's parent company, Trinity Coal, was forced into chapter 11 bankruptcy, which could put the company in jeopardy.

According to federal court documents, Trinity Coal owes six companies money.  Through chapter 11, they'll have to reorganize, so creditors can get their money back.

Local business owners like Tom Louisos say, when this happens to people in the area, they feel the burn too.

"When they don't have the money to buy breakfast or whatever, what about the gasoline for the cars, utilities, and other things that people buy?  It affects everyone. The dollar circulates and goes all the way around. When they have money, we have money," says Louisos, a long time restaurant owner in Oak Hill.

In an effort to contact Frasure Creek mine, they said they had no comment about the issue. 

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