Black Jewel, LLC filed Chapter 11 Bankruptcy last week and closed its operations and putting 600 workers out of work, but that’s not all the bad news for those coal miners and their families.
The company had withheld $1.2 million from employees’ paychecks but failed to deposit those funds in the workers’ retirement accounts.
Bankruptcy records confirmed that Black Jewel is in fact behind in its 401k retirement deposits.
The company is also $900k behind on its own obligations to match employees’ contributions.
