Annesley was never bought by the workers, malcolm Edwards coal investments bought the pit, along with markham main, coventry, hem heath, silverdale and a small drift mine in south wales, they bit off a bit more than they could chew and went bust.
Midland Mining bought Annesley and silverdale, in 1998 silverdale hit geological problems and closed that year, with some of the lads coming to annesley.
In 1998 Annesley had two faces running, 86's and 101's, with 99's and 102's developments in progress, as well as 93's booster fan installation well under way,an air way had been made to 12's loadergate to complete the return air to the pit bottom. it looked like we were going all the way to calverton in the blackshale seam with ten coal faces planned and work for the next fifteen years minimum, however while the shearers on both face's were brand new, along with the loader gate stage loaders, the chocks and pan line had seen better days, and any new face required brand new tackle, no bank was prepared to borrow the money needed to buy the said equipment, so all developments were stopped and both faces would continue to retreat to their stopping points, last shift being 28th jan 2000 on the 6pm shift. 6 months later the liarbour goverment announced financial help for the remaining coal mines.( Both Joy shearers were left in cut at the loader gate, one million pounds each unsalvaged
Financial problems closed Annesley.