16 US Trucking Companies File for Bankruptcy in Under a Month

FreightWaves··US·Read original
3▲0 ▼0Impact / 5
Summary · why it matters

At least 16 trucking, delivery and transportation companies entered bankruptcy proceedings between late August and Sept. 21, according to federal court filings and carrier records reviewed by FreightWaves. The filings include Chapter 11 cases involving Globemaster Incorporated, Xoco Transport, Jett Transport & Materials, CLJ Transporting, Mill Creek Logistics-Illinois, RP Hay Hauling, Truckload LLC and Pacer Transport, while several smaller carriers filed Chapter 7 cases that typically involve liquidation rather than reorganization. Among the largest, Hidalgo, Texas-based Xoco Transport filed for Chapter 11 on Sept. 16 with more than 40 tractors, 65 drivers and 70 trailers, and Bolingbrook, Illinois-based Globemaster filed on Sept. 15 reporting assets of between $500,000 and $1 million against liabilities of $1 million to $10 million. Pacer Transport, based in Arnaudville, Louisiana, filed Sept. 4 with less than $50,000 in assets and between $1 million and $10 million in liabilities, one of the widest asset-to-liability disparities among the recent filings. The geographically widespread cases come as carriers continue navigating a freight environment marked by rising diesel fuel prices and other elevated operating costs, with financial pressure surfacing across general freight, last-mile, agricultural and specialized trucking.

Off-coverage companies 7

CLJ Transporting, Inc.Private▼ Negative
Capitalrelevance

CLJ Transporting is named among the trucking companies that entered bankruptcy proceedings.

Globemaster IncorporatedPrivate▼ Negative
Supplyrelevance

Globemaster Incorporated filed for Chapter 11 on Sept. 15 with liabilities far exceeding assets amid elevated operating costs.

Jett Transport & MaterialsPrivate▼ Negative
Capitalrelevance

Jett Transport & Materials is named among the companies entering bankruptcy proceedings.

Mill Creek Logistics-IllinoisPrivate▼ Negative
Capitalrelevance

Mill Creek Logistics-Illinois is listed among the carriers that filed for bankruptcy.

Pacer TransportPrivate▼ Negative
Capitalrelevance

Pacer Transport filed for bankruptcy Sept. 4 with liabilities far exceeding its assets.

RP Hay HaulingPrivate▼ Negative
Supplyrelevance

RP Hay Hauling is named among the trucking carriers that entered bankruptcy amid rising diesel fuel and elevated operating costs.

Xoco TransportPrivate▼ Negative
Capitalrelevance

Xoco Transport filed for Chapter 11 on Sept. 16 amid the freight downturn.

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