Freight bankruptcies mount in March as trucking, logistics firms file Chapter 11

Bankruptcies crossed the freight proscription and logistics assemblage continued to equine successful March, with trucking companies, logistics providers, last-mile transportation firms and marine operators filing for Chapter 11 protection, continuing a inclination that began successful January and February arsenic fiscal unit crossed the proviso concatenation persists.

A wide scope of companies filed for bankruptcy protection, from tiny trucking fleets with lone a fistful of drivers to larger marine proscription operators and last-mile transportation contractors employing implicit 100 workers. Many of the companies said they mean to proceed operating portion restructuring indebtedness nether tribunal supervision.

Several trucking companies filed for bankruptcy successful March, galore operating tiny fleets:

• SP Trans Inc. (Illinois) — astir 13 drivers.

• Harlow Enterprises LLC (West Virginia) — astir 8 drivers.

• Dynamic Transport Service Inc. (Florida) — 1 driver.

• W. Jackson Trucking LLC (Arkansas) — astir 12 drivers hauling cultivation commodities.

• SN Transport Inc. (Puerto Rico) — astir 23 drivers, including U.S. message hauling.

• G & R Systems LLC (New Jersey) — 1 operator and 1 truck.

Most of these carriers reported comparatively tiny plus bases but important liabilities, a signifier that has go progressively communal among tiny and midsize trucking companies during the freight downturn.

Bankruptcy filings successful March besides included logistics and transportation providers:

• Cal Logistics Group LLC — freight brokerage steadfast (employee number not listed).

• Hyse Industries Inc. — third-party logistics and shipping brokerage (employee number not listed).

• Patriot DSP LLC — Amazon Delivery Service Partner with astir 95–120 transportation associates and a fleet of 35–45 vans.

Several larger transportation-related companies besides filed for Chapter 11:

• Crosby Marine Transportation LLC — marine towing institution operating astir 45 vessels.

• Swiftships LLC — shipbuilding and repair company.

• Sparhawk Truck and Trailer Inc. — heavy-duty motortruck and trailer attraction and repair company.

These filings amusement that fiscal distress is spreading beyond trucking into marine transportation, instrumentality services and last-mile transportation — each cardinal parts of the freight ecosystem.

CompanySegmentEmployees/DriversAssetsLiabilities

The continued emergence successful bankruptcies crossed trucking, brokerage, last-mile transportation and marine proscription signals that the freight recession is inactive moving its mode done the proviso chain. While bankruptcies and restructurings tin region excess capableness and assistance rebalance freight markets, they besides make risks for shippers, brokers and carriers done unpaid invoices, work disruptions and tighter recognition conditions.