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Clintwood JOD Coal Sale Signals Industry Collapse | Lexington News
A once-proud coal giant in Eastern Kentucky, Clintwood JOD, just sold for under a million bucks at bankruptcy auction—its prized steelmaking coal reserves now owned by Ohio-based CW Reclaim. Burdened by over $60 million in debt, the company’s collapse echoes the deepening crisis in Central Appalachia’s coal industry. Despite paying big for those rights in 2019, the debt crippled them, leaving creditors—including a hedge fund owed $26 million and Kentucky itself—unpaid. Three hundred workers lost their jobs in March, with more cuts looming. The new owners inherit cleanup and closure of over a…
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