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Trucking lender and factoring company Instapay, alongside its parent company Flexible Funding, filed for Chapter 11 bankruptcy protection, according to court records filed with the U.S. Bankruptcy Court of North Texas in Fort Worth.
San Francisco-headquartered Flexible provides asset-based lending within the staffing industry, while Instapay focuses on the transportation industry. Flexible’s lending product enables clients to fund and grow their businesses using the accounts receivable that they...
Without warning, New England Motor Freight (NEMF) and 10 related entities filed for Chapter 11 bankruptcy protection in U.S. Bankruptcy Court in Newark, New Jersey, on February 11, 2019. The company announced that it would commence an “orderly wind-down” of the business. The filing cited rising operating costs, a shortage of drivers and financial difficulties in the bankruptcy decision. The company officially closed its doors one year later.
Origins
New England Motor Freight’s origins can be...
https://www.freightwaves.com/news/freightwaves-haul-of-fame-nemfs-2019-bankruptcy-shocked-ltl-market
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https://www.freightwaves.com/news/daily-infographic-trucking-bankruptcies
