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  • #46
    Re: Another trucking bankruptcy

    This small carrier located in Illinois, cites increased insurance costs for their bankruptcy.

    Carrier ties bankruptcy to soaring insurance rates, fatal crash
    Deluxe Express Inc. of Plainfield, Illinois, filed for Chapter 11 bankruptcy protection on Wednesday, citing soaring insurance rates after one of its drivers was involved in a fatal crash on Interstate 80 near Laramie, Wyoming, in March 2019.
    The trucking company has 13 power units and lists 13 drivers, according to FMCSA records.
    Deluxe Express and another motor carrier have been named in a wrongful death lawsuit filed by the family of a man killed in the deadly pileup involving three trucking companies.
    In its filing with the U.S. Bankruptcy Court for the Northern District of Illinois, Deluxe Express lists its assets and liabilities as being between $1 million and $10 million. It lists up to 49 creditors in its bankruptcy filing.
    Igoris Geguzinskas, president of Deluxe Express, said skyrocketing insurance costs made it impossible for his small trucking company to continue in the wake of the March 9, 2019, pileup.
    https://www.freightwaves.com/news/de...kruptcy-filing

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    • #47
      Re: Another trucking bankruptcy

      This carrier received a PPP loan from the government and still filed bankruptcy.

      PPP loan can’t save Alabama carrier from bankruptcy
      An Alabama-based carrier recently filed for Chapter 7 bankruptcy, despite receiving a loan to stay afloat during the COVID-19 pandemic through the U.S. Small Business Administration’s Paycheck Protection Program (PPP).
      According to Foster Freights’ bankruptcy petition, it received a PPP loan for nearly $19,000 on May 4 through SBA lender BBVA USA, headquartered in Birmingham, Alabama.The carrier, which hauled general and refrigerated freight, has four power units and six drivers, according to the Federal Motor Carrier Safety Administration (FMCSA) SAFER website. Foster Freights’ insurance is scheduled to be canceled on Aug. 4, according to FMCSA data.
      https://www.freightwaves.com/news/fo...tcy-protection

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      • #48
        Re: Another trucking bankruptcy

        While this appears to be a small trucking company, it is still the loss of a 140 jobs.
        While the story comments about the closing of an Amazon distribution center, that business doesn't appear in the trucking company's list of customers.

        Nearly 150 trucking jobs hang in the balance
        A trucking company in Henrietta, New York will soon lay off 140 employees.
        According to WHAM News, Allpoints Trucking plans to begin the mass layoffs by the end of October and has issued a state WARN notice.
        Along with the trucking company, the subsequent Amazon distribution will also be closing.
        https://cdllife.com/2020/nearly-150-...n-the-balance/

        All Points Transportation Company web site: http://www.allpointstransportation.com/clients.htm

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        • #49
          Re: Another trucking bankruptcy

          This small Texas company has declared bankruptcy and stiffed a few contractors.

          Truckers owed thousands after Texas carrier files bankruptcy
          Several trucking companies are collectively owed hundreds of thousands of dollars after a Texas-based motor carrier filed for Chapter 11 bankruptcy protection late last week.
          FALC Enterprises of El Paso, Texas, filed its petition in the U.S. Bankruptcy Court for the Western District of Texas last Friday.
          In its filing, FALC lists both its assets and liabilities as between $1 and $10 million and states it has up to 99 creditors. The Federal Motor Carrier Safety Administration revoked FALC’s operating authority in February. Its insurance policy was canceled in late January.
          Several small trucking companies are listed among the carrier’s unsecured creditors, which are last for payment in Chapter 11 cases.
          https://www.freightwaves.com/news/tr...les-bankruptcy

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          • #50
            Re: Another trucking bankruptcy

            Another Texas carrier has filed for bankruptcy, even though they had approved PPP government loans.

            Small-business truckers among those owed after Texas carrier files Chapter 11
            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. Bankruptcy Court for the Northern District of Texas.
            According to the Federal Motor Carrier Safety Administration SAFER website, Grimmett Brothers is an intrastate carrier with 34 power units and 27 drivers.
            In its filing, Grimmett Brothers lists both its assets and liabilities as between $1 million and $10 million. It states it has up to 99 creditors.
            https://www.freightwaves.com/news/sm...les-chapter-11

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            • #51
              Re: Another trucking bankruptcy

              Another Texas carrier abruptly shuts down.

              Texas trucking company closes its doors, sources say
              Texas-based trucking company Trinity Logistics Group is ceasing operations due to “lack of work” in an abrupt closure that left some drivers blindsided, sources close to the company told FreightWaves.
              Drivers were told of the closure in a Sept. 28 conference call, sources told FreightWaves on Saturday. Dallas-based Trinity Logistics Group is a wholly-owned subsidiary of Trinity Industries, Inc. (NYSE: TRN.)
              All of the equipment had been slated to be returned to the company’s headquarters on Friday.
              Trinity Logistics Group had 102 drivers and 150 power units, according to the Federal Motor Carrier Safety Administration SAFER website. The carrier offered flatbed, oversize and heavy haul services, including hauling windmill components.
              According to the Texas Workforce Commission website, Trinity Logistics Group had not filed a notice of its impending closure prior to its announcement on Sept. 28.
              Employers with more than 100 employees are required to notify workers as part of the federal Worker Adjustment and Retraining Notification (WARN) Act. WARN requires employers to provide their employees with a 60-day notice of a massive layoff.
              https://www.freightwaves.com/news/br...rs-sources-say

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              • #52
                Re: Another trucking bankruptcy

                This small carrier in Michigan has filed chapter 11.

                Michigan carrier files for bankruptcy
                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, according to the Federal Motor Carrier Safety Administration’s SAFER website. The bankruptcy filing listed 22 trucks and 6 trailers as assets.
                https://www.freightwaves.com/news/mi...for-bankruptcy

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