The Lehigh Coal and Navigation Company, headquartered in Pottsville with operations in Tamaqua and the Panther Valley, has reached an agreement with creditors to stave off forced Chapter 7 bankruptcy proceedings.

The Chapter 7 case would have required the company to sell off its assets in order to pay off debts.A request for dismissal was filed, providing an opportunity for the company to pay off some of the $123,979 owed to five other companies.