Freight bankruptcies pile up as carriers, logistics firms seek court protection
A new batch of bankruptcy cases includes small fleets, cross-border logistics providers, cold storage operators, freight forwarders and major distributors. The post Freight bankruptcies pile up as carriers, logistics firms seek court protection appeared first on FreightWaves .
Recent bankruptcy filings reveal a wave of financial distress sweeping through the freight and logistics sector across the United States. From late July through August 25, at least 21 transportation and logistics-related companies, ranging from small carriers to national distributors, sought either Chapter 7 liquidation or Chapter 11 protection. Companies faced challenges including debt loads, thin asset bases, and restructuring difficulties.
Among the largest companies facing bankruptcy was BFG Supply Co. LLC, an Indianapolis-based distributor with assets and liabilities estimated between $100 million and $500 million. The company operates a national network of 15 warehouses carrying over 100,000 SKUs from more than 1,000 manufacturers and employs approximately 454 people.
Several smaller trucking companies also filed for protection. Anchor South Transport LLC, based in Alabama, with only 14 trucks and 12 drivers, filed for Chapter 11 on July 28, reporting assets of nearly $1.4 million against $2.2 million in liabilities. Black Lion Transportation and Truck Repairs LLC in Georgia, with an estimated asset and liability range of $100,001 to $500,000, elected to proceed under a streamlined Chapter 11 process for small businesses.
Other filings involved companies with even fewer assets, such as DD Freight Express Inc. in Chicago, which reported just $223,000 in assets and $2,930 in liabilities.
The filings also extended beyond motor carriers, affecting freight forwarding, warehousing, and logistics providers. Jet-Speed Logistics (USA) LLC, an international freight forwarder and customs broker, filed for Chapter 11 in Illinois, estimating assets of $50,000 to $100,000 against liabilities of $1 million to $10 million. Inclusive Logistics LLC in Texas, a cross-border logistics provider, filed Chapter 11 with estimated assets and liabilities of $1 million to $10 million and between 50 and 99 creditors.
Royal Cold Storage Inc., a refrigerated warehousing provider in California, also filed Chapter 11 with below $50,000 in assets and liabilities, and between one and 49 creditors.
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