Case Study: Murray Energy Holdings protects creditors and jobs with AlixPartners

Murray Energy Holdings - Customer Case Study

Murray Energy Holdings, the largest private coal producer in the U.S., faced a severe liquidity crunch in 2019 as coal demand plunged, debt service costs mounted, and it ultimately filed for Chapter 11. AlixPartners was retained as financial advisor to the Official Committee of Unsecured Creditors to help assess the company’s strategic and financial position and protect creditor interests.

AlixPartners analyzed Murray Energy’s business plan, cash-flow projections, DIP facility, first-day motions, and exit financing needs, while also supporting investigations and negotiations around a reorganization plan and global settlement. The result was a successful restructuring that enabled Murray Energy to emerge from Chapter 11 in September 2020, helping preserve the business and support approximately 5,500 jobs.