Chapter 11 bankruptcy filing

Who wants a piece or two of Proterra?

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Those surprised by Proterra Inc.’s Chapter 11 bankruptcy filing earlier this month probably should...

https://www.freightwaves.com/news/who-wants-a-piece-or-two-of-proterra

Cash-poor transportation startups gambling for fresh capital

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As transportation and electrification startups struggle to raise capital, they are increasingly...

https://www.freightwaves.com/news/cash-poor-transportation-startups-gambling-for-fresh-capital

Proterra won’t fight Nasdaq delisting following bankruptcy filing

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Electric bus and battery maker Proterra Inc. won’t fight its Aug. 17 delisting from the Nasdaq as it...

https://www.freightwaves.com/news/proterra-wont-fight-nasdaq-delisting-following-bankruptcy-filing

EV battery maker Proterra files for Chapter 11 bankruptcy protection

Cash-strapped electric bus and battery maker Proterra Inc. filed for Chapter 11 bankruptcy protection Monday. The company plans to keep running while sorting out its business units during reorganization.

Proterra voluntarily filed its petition in the District of Delaware where it is incorporated. It hopes to strengthen its financial position through recapitalization or sale of some business units. In addition to its original line of electric buses, Proterra makes battery packs and develops...

https://www.freightwaves.com/news/ev-battery-maker-proterra-files-for-chapter-11-bankruptcy-protection

Truckers, logistics firms owed millions after meat importer’s bankruptcy

Several trucking companies, logistics firms and cold storage providers are collectively owed millions of dollars after an Iowa-based frozen meat importer filed for Chapter 11 bankruptcy protection recently.

South American Beef Inc., headquartered in West Des Moines, filed its petition in the U.S. Bankruptcy Court for the Southern District of Iowa last week.

According to its website, Alejandra Vidal-Soler, president of SAB, founded the company in 1999, along with her husband, Scott Graham. 

Their...

https://www.freightwaves.com/news/truckers-logistics-firms-owed-millions-after-meat-importers-bankruptcy

Trucking lender Instapay files for Chapter 11 bankruptcy protection

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...

https://www.freightwaves.com/news/trucking-lender-instapay-files-for-chapter-11-bankruptcy-protection

Ohio transportation company, 3 trucking affiliates file for Chapter 11 bankruptcy

5AAB Holding files Chapter 11 bankruptcy

An Ohio-based transportation company and three of its trucking company affiliates filed for Chapter 11 bankruptcy protection, despite receiving loans through the U.S. Small Business Administration’s Paycheck Protection Program (PPP) to stay afloat during the COVID-19 pandemic.

5AAB Holding LLC of Columbus, Ohio, along with its affiliates, 5AAB Transport, Heavy Diesel Service and SJS Transport, filed its petition in the U.S. Bankruptcy Court for the Southern District of Ohio on Monday. 

In its...

https://www.freightwaves.com/news/ohio-transportation-company-3-trucking-affiliates-file-for-chapter-11-bankruptcy

Boeing supplier files for Chapter 11 bankruptcy

GDC Technics, an aeronautics interiors supplier, filed for Chapter 11 bankruptcy the same day the company announced it was laying off 223 people in Texas.

The layoffs and bankruptcy filing come after Boeing Co. (NYSE: BA) sued GDC Technics for allegedly being behind schedule on two Air Force One aircraft.

The bankruptcy filing in the Western District of Texas did not include detailed financial information about GDC Technics. The company listed liabilities from $10 million to $50 million and more...

https://s29755.pcdn.co/news/boeing-supplier-files-for-chapter-11-bankruptcy

Michigan carrier files for bankruptcy

Michigan-based carrier files for Chapter 11

Michigan-based DIS Transportation and affiliate company DIS Express have filed Chapter 11 bankruptcy with the U.S. Bankruptcy Court for the Western District of Michigan.

The company listed $392,000 in assets and $569,000 in liabilities. The largest claims were $306,000 (secured by property) and business debts of $100,000 to PNC Bank and $90,000 to a truck and trailer repair company.

The carriers operates out of Grand Rapids and Kentwood, Michigan, with a fleet of 23 power units and 25 drivers,...

https://s29755.pcdn.co/news/michigan-carrier-files-for-bankruptcy

Small-business truckers among those owed after Texas carrier files Chapter 11

Grimmett Brothers Inc. filed for bankruptcy recently in Texas

A Texas-based carrier recently filed for Chapter 11 bankruptcy protection, despite being approved for between $350,000 and $1 million through the U.S. Small Business Administration’s Paycheck Protection Program (PPP) to stay afloat during the COVID-19 pandemic.

This marks the second time in four years that family-owned Grimmett Brothers Inc. of Snyder, Texas, has filed bankruptcy, according to court filings.

Grimmett Brothers, a heavy-haul and earth-moving company, filed its petition in the U.S....

https://s29755.pcdn.co/news/small-business-truckers-among-those-owed-after-texas-carrier-files-chapter-11

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