Murray Energy, the US largest privately owned coal producer led by outspoken Donald Trump’s ally Robert Murray, has filed for chapter 11 protection , as the fossil fuel’s role in the country’s energy mix continues to weaken The Ohio-based miner, the eighth coal company to go under over the past year, said it had reached a restructuring agreement with lenders to restructure more than $2.7 billion of debt. As part of the arrangement, lenders are creating a new entity called Murray NewCo, which will acquire all assets belonging to Murray Energy — one of the most powerful and well-connected companies in the coal industry. The coal producer noted it would finance operations with available cash and a $350 million debtor-in-possession financing facility. Robert Murray, the self-proclaimed king of the coal industry, is stepping down from its chief executive position, but he will remain as the company’s chairman. Former chief […]