An Alabama-based carrier recently filed for Chapter 7 bankruptcy, despite receiving a loan to stay afloat during the COVID-19 pandemic through the U.S. Small Business Administration’s Paycheck Protection Program (PPP).
In its filing with the U.S. Bankruptcy Court for the Middle District of Alabama, Foster Freights LLC of Clayton, Alabama, lists its assets as up to $50,000 and its liabilities as between $100,000 and $500,000. It lists up to 49 creditors. The carrier states that no funds will be...
https://www.freightwaves.com/news/foster-freights-llc-files-for-chapter-7-bankruptcy-protection