The Great Freight Recession over the last three years has led to financial distress for many trucking, transportation, and logistics companies.
Trucking companies have battled reduced shipping demand, lower freight rates, and rising costs of labor, fuel, and insurance, which have impacted revenues and profits.
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Several trucking companies in April either filed for Chapter 11 bankruptcy or shut their doors without going bankrupt.
Related: Major trucking company to shut down, no bankruptcy plans
Madison, Ill.-based LTI Trucking, with about 250 drivers, 300 tractors, and 575 trailers, shut down its operations on April 2, but it had not filed for bankruptcy at last check. The company was a major shipper of products for AB InBev, KraftHeinz, Vlasic, Hershey’s, Nestle, Tyson, Hillshire Farm, Kroger, Hostess, and Sara Lee.
Florida-based trucking company Davis Express Inc. revealed on its Facebook page that the company was shutting down its business permanently after making its final deliveries on April 23 and returning all trucks to its terminal by April 30.
The owner of the company said he will retire and does not want to wait any longer for the business to turn around or to find a buyer. The founder’s family is no longer interested in continuing the business due to industry challenges, he said.
All employees will be paid every and receive benefits through their June 15 pay period, the company said.
Davis Express has 160 trucks and 140 drivers, according to the Federal Motor Carrier Safety Administration SAFER web page. It will lay off its drivers, but will continue to employ mechanics and operate its shop while the company takes equipment out of service and sells assets.
3 trucking firms file bankruptcy on same day
April 7 was a bad day for the trucking industry as three companies filed for Chapter 11 protection on that day. Small trucking firm, Memphis, Tenn.-based Best Logistics Inc., filed for Chapter 11 bankruptcy under a Subchapter V petition in the U.S. Bankruptcy Court for the Western District of Tennessee.
Another freight transportation and logistics company, C&C Freight Network, also filed for Chapter 11 bankruptcy to restructure its debts, facing economic problems. The debtor indicated that no funds would be available to distribute to unsecured creditors.
And, Dedham, Mass.-based Best Choice Trucking LLC, filed for bankruptcy to restructure its debts, which include a large amount of vehicle financing.
Balkan Express files Chapter 11 bankruptcy to reorganize.
Image source: Shutterstock
Balkan Express files for Chapter 11 protection
Finally, transportation and logistics company Balkan Express and its affiliate Balkan Logistics filed for Chapter 11 bankruptcy to restructure their debts on April 30.
Related: Another struggling trucking company files Chapter 11 bankruptcy
The Fort Worth, Texas, general freight trucking company filed its petition in the U.S. Bankruptcy Court for the Northern District of Texas listing $10 million to $50 million in assets and liabilities.
More bankruptcies:
Popular restaurant and bar chain files for Chapter 11 bankruptcyPopular athletic shoe chain files for Chapter 11 bankruptcyAward-winning cosmetics brand files for Chapter 11 bankruptcy
The debtor indicated in its petition that funds would be available to distribute to unsecured creditors.
Balkan Express operates 159 power units and employs about 166 drivers who ship general freight, including beverages, according to the Federal Motor Carrier Safety Administration’s SAFER website.
The company’s website said that the company, which has operated for 16 years, has 150 trucks on the road and employs 250 people, covering 48 states.
Balkan provides ground transport and freight forwarding services; trucking service; and logistic services, whether it is freight transportation, supply chain solutions, warehousing and distribution, temperature-controlled logistics, or customs, security and insurance; and 24-hour dispatcher support.
M&T Capital filed a lawsuit against Balkan Express in March 2025, alleging the company owed it over $4.2 million in unpaid loans, interest, and attorney fees related to the lawsuit, FreightWaves reported.
Related: Iconic trucking company closes down operations; no bankruptcy yet
