BELMONT, W.Va. — Just three years after purchasing a historic coal-fired power plant in Pleasants County, Omnis Pleasants has filed for bankruptcy.
According to a news release, the former Pleasants Power Station will continue operations despite the filing in U.S. Bankruptcy Court for the District of Delaware. The company, Omnis Pleasants LLC, filed for Chapter 11 bankruptcy as it deals with financial challenges.
Omnis Pleasants changed its leadership in February, tabbing David Hindman as CEO and Gilbert Nathan as director and independent manager. The two replaced Simon Hodson and Randall Smith as Omni Pleasants began to operate separately from Omnis Fuel Technologies.
“After careful consideration, the management team of Pleasants, as well as its legal counsel and advisors, believe that initiating a Chapter 11 process is the best path forward to achieve a resolution that is best for all stakeholders,” Hindman stated in the news release. “It is top of mind and our goal to achieve a full recovery to the State of West Virginia and ensure a successful future for Pleasants Power Station while honoring our obligations to PJM, vendors and employees.”
“Current management of Pleasants will remain in place to work collaboratively with the State of West Virginia and all stakeholders to ensure the best possible outcome,” Hindman continued.
The 1,278-megawatt facility is going to continue “normal business and operations” for the time being and continue supplying electricity to PJM Interconnection, according to the release. Going forward, the company eyes an “independent third party” to purchase the station to “ensure its continued successful operation.”
The power plant currently has around 140 workers.