Jim Palmer Trucking Filing for Bankruptcy

Missoula, Mont.-based Jim Palmer Trucking plans to file for Chapter 11 bankruptcy protection, following similar filings by two of its subsidiaries, the Associated Press reported Friday.

Attorneys for the company said it would file for bankruptcy in Butte, Mont., following two subsidiaries that filed Thursday, AP reported.

Company President Lonnie Wallace said officials were trying to save the 44-year-old company, which has 425 employees, AP reported.

Wallace estimated the trucking firm and two equipment subsidiaries were delinquent on $1.5 million to $2 million in equipment loans and operating debts, and a company attorney cited soaring diesel prices as a factor in the filing, AP said.