16 trucking companies file for bankruptcy in less than one month amid high fuel prices
At least 16 trucking, delivery and transport companies have initiated bankruptcy proceedings between late August and Sept. 21.
The Chapter 7 or Chapter 11 protection filings hit small owner-operators and fleets operating dozens of trucks, FrightWaves reported, citing federal court filings and carrier records.
Among the Chapter 11 cases are Globemaster Incorporated, Xoco Transport, Jett Transport & Materials, CLJ Transporting, Mill Creek Logistics-Illinois, RP Hay Hauling, Truckload LLC and Pacer Transport. Several smaller carriers filed for Chapter 7, which usually involves liquidation rather than reorganization.
The slew of fillings comes as trucking companies navigate high diesel prices and other elevated operating costs.
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About the Author: Patriotman
Patriotman currently ekes out a survivalist lifestyle in a suburban northeastern state as best as he can. He has varied experience in political science, public policy, biological sciences, and higher education. Proudly Catholic and an Eagle Scout, he has no military experience and thus offers a relatable perspective for the average suburban prepper who is preparing for troubled times on the horizon with less than ideal teams and in less than ideal locations.
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