Bankruptcy possible for Peabody Energy

St. Louis-based Peabody Energy announced today it skipped $71.1 million in interest payments and may file Chapter 11 bankruptcy.

Peabody, the largest private coal company in the world, will be in default if the payments are not made within 30 days, according to the St. Louis Business Journal.

The company also borrowed $945 million in February. Its debt load was $6.3 billion as of Dec. 31.

Read more from the St. Louis Business Journal.