Bankruptcy

Georgia-based RSTZ, with operations also in New England, files for bankruptcy protection

A Georgia-based carrier which also has deep roots in Massachusetts and which has been in business since 2017 has filed for Chapter 11 bankruptcy protection.

RSTZ Transport Inc., based in Cumming, filed Friday in the U.S. Bankruptcy Court for the Northern District of Georgia.

In its filing, it provides a long list of products it carries, heavily skewed toward edibles: meat, dry bulk commodities, fresh produce, refrigerated food and beverages. It also lists paper products, chemicals and building...

https://www.freightwaves.com/news/georgia-based-rstz-with-operations-also-in-new-england-files-for-bankruptcy-protection

Missouri carrier, affiliate blame dispute with engine maker for bankruptcy 

Strafford, Missouri-based truckload carrier RBX Inc. and its equipment leasing affiliate, Humper Equipment, have filed suit against Paccar Financial Inc. of Bellevue, Washington. They are asking a Missouri bankruptcy judge to force Paccar to turn over 28 Kenworth and Peterbilt tractors it repossessed in late November amid an ongoing engine performance dispute with the global commercial truck financing company and its subsidiary, Paccar Engine Co. 

Humper Equipment filed its bare-bones emergency...

https://www.freightwaves.com/news/missouri-carrier-affiliate-blame-dispute-with-engine-maker-for-bankruptcy

Kal Freight’s bankruptcy reveals massive fraud accusations

In a stunning turn of events, California-based trucking company Kal Freight Inc. has filed for Chapter 11 bankruptcy protection, unveiling a web of fraudulent activities that have sent shockwaves through the industry. The company faces serious allegations of financial misconduct and asset mismanagement.

Who is Kal Freight?

According to a filing with the Federal Motor Carrier Safety Administration, Kal Freight employs 600 drivers and has 580 power units. The company was founded in 2014 and has...

https://www.freightwaves.com/news/kal-freights-bankruptcy-reveals-massive-fraud-accusations

Kal Freight co-founder says no layoffs expected in restructuring

The co-founder of Kal Freight said he does not expect any layoffs as the trucking company restructures under Chapter 11.

Kal Freight on Thursday filed for Chapter 11 bankruptcy in the Southern District of Texas. Filing of Chapter 11 will allow the company to reorganize while continuing operations. 

Co-founder MP Singh told FreightWaves no jobs should be impacted by the restructuring and that operations will continue as normal for the Texas-based company. According to a filing with the Federal...

https://www.freightwaves.com/news/kal-freight-co-founder-says-no-layoffs-expected-in-restructuring

Preparing your trucking company if you have to file for Chapter 11 bankruptcy

The trucking industry has always been cyclical, but recent years have brought unprecedented challenges. The post-COVID era saw a perfect storm that led to extreme swings in freight demand, forcing many trucking companies to close their doors. The situation has only worsened as trucking rates have plummeted back to pre-COVID levels, leaving companies with inflated costs and debt burdens.

The current landscape

The trucking industry’s boom during the height of the pandemic was unsustainable. High...

https://www.freightwaves.com/news/preparing-your-trucking-company-if-you-have-to-file-for-chapter-11-bankruptcy

Surge Transportation: A ‘Rocky’ story of resilience in the freight recession

Bart

The views expressed here are solely those of the author and do not necessarily represent the views of FreightWaves or its affiliates.

By Bart De Muynck

I spent the past few days in Philadelphia at a logistics technology conference. Philly is the city of Rocky, the underdog boxer who gets to challenge the champion and ends up winning the hearts of the crowd. At the same conference, I talked to Omar Singh, CEO and founder of Surge Transportation, who pulled off a feat never seen before. In an...

https://www.freightwaves.com/news/surge-transportation-a-rocky-story-of-resilience-in-the-freight-recession

Indiana carrier seeks post-bankruptcy financing deal with factoring company

An attorney representing an Indiana trucking company and two of its affiliates are seeking a bankruptcy court’s approval to enter into a post-petition financing agreement with WEX Bank, a company that specializes in fuel card and factoring services.

Prior to filing for Chapter 11 bankruptcy protection on May 31 in the U.S. Bankruptcy Court for the Northern District of Indiana, APL Cargo and affiliates Indy National Leasing and Ecosmart Trucks entered into an over-the-road account agreement,...

https://www.freightwaves.com/news/indiana-carrier-seeks-post-bankruptcy-financing-deal-with-factoring-company

97-year-old Illinois dairy forced into bankruptcy

A 97-year-old family-owned dairy that offers home milk delivery in glass bottles and operates over 40 ice cream and dairy stores in Illinois and Missouri recently filed for Chapter 11 bankruptcy protection.

Oberweis Dairy Inc., headquartered in North Aurora, Illinois, filed its petition Friday in the U.S. Bankruptcy Court for the Northern District of Illinois. 

In its filing, which seeks to reorganize and restructure the company, Oberweis Dairy lists both its assets and liabilities as between $10...

https://www.freightwaves.com/news/97-year-old-illinois-dairy-forced-into-bankruptcy

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