Mine company files for bankruptcy

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Mine company files for bankruptcy

Written by Administrator

Saturday, 24 January 2009 09:48

January 16, 2009

NASHVILLE -- The company that owns the zinc mine in Gordonsville has filed for bankruptcy.

Strategic Resource Acquisition Corporation, out of Toronto, said the Chapter 11 filing will allow them to develop a restructuring plan to handle current debt.

The plant temporarily suspended production in October due to low zinc prices.

In November, 200 employees were laid off, prompting some to file a class-action lawsuit against the company claiming employees weren't given the required 60-day notice of the mass layoffs.

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