Sixteen Small Trucking Firms Seek Bankruptcy Protection Amid Rising Diesel Costs
Sixteen trucking, delivery and transport companies filed for Chapter 7 or Chapter 11 bankruptcy between late August and Sept. 21 as diesel prices and operating expenses surged.
Between late August and Sept. 21, at least sixteen trucking and logistics companies filed for bankruptcy protection, choosing either Chapter 7 liquidation or Chapter 11 reorganization. The filings affect small owner-operators and fleets that run only a few dozen trucks. Companies pursuing Chapter 11 include Globemaster Incorporated, Xoco Transport, Jett Transport & Materials, CLJ Transporting, Mill Creek Logistics-Illinois, RP Hay Hauling, Truckload LLC and Pacer Transport.
Several smaller carriers have entered Chapter 7, which typically leads to asset liquidation. The surge in filings coincides with sharply higher diesel prices and rising overall operating costs that are straining the sector.
