Salt Lake City Mining Company Files for Bankruptcy

In Salt Lake City, Utah, it has been announced that a mining company has shut down and will be filing for bankruptcy protection.  The company, Copper King Mining Corp., operates in Utah's west desert and has let go of many of its employees.

According to the company, it hopes to emerge from its Chapter 11 bankruptcy much stronger.  The company plans to reorganize, pay off its debts and raise profits. Copper King Mining Corp. encountered problems when it could not honor its contracts to supply customers, which led to the company considering bankruptcy.

In its bankruptcy filing, which was filed on Tuesday at the U.S. Bankruptcy Court for Nevada, the company said it could no longer pay for mining leases, workers, operations or even its legal team.  The company said that due to its lacking finances, it even had its power shut off.

Are you thinking about filing for bankruptcy in Salt Lake City?  If so, contact the Stone Law Firm to consult with a Salt Lake City bankruptcy lawyer today!