Bankruptcy

TCA

German Shipping Firm Rickmers Shuts Down Business

Susana Gonzalez/Bloomberg News

Shipowner and operator Rickmers Maritime shut down its business and sold off its entire fleet after a last-ditch debt restructuring deal was rejected by its major creditors.

Ben Kritz | The Manila Times (Philippines)
June 5, 2017
TCA

550 Warehouse Workers to Be Laid Off After Midwest Grocer Files for Bankruptcy

Central Grocers

After almost 100 years of doing business, Joliet,Ill.-based Central Grocers filed for Chapter 11 bankruptcy May 4 and will lay off about 550 employees at the company's Joliet warehouse.

Greg Trotter and Ally Marotti | Chicago Tribune
May 5, 2017
Business, Safety, Government

Southern California Drayage Hauler TTSI Files Chapter 11 Bankruptcy

TT File Photo

The parent company of Total Transportation Services Inc. filed voluntarily for Chapter 11 reorganization bankruptcy in federal court in Delaware, citing legal difficulties relating to independent contractors and the California Labor Commissioner.

Jonathan S. Reiskin | Associate News Editor
March 16, 2016
Business, Safety, Government

Bankruptcy Trustee Sues Carriers, Seeks Millions in Past Payments

Russ MacNeil

The trustee for TransVantage Solutions Inc., a bankrupt freight bill payment firm, is suing more than 500 truckers and other transport companies in a bid to recoup hundreds of millions of dollars by claiming payments made over several years were improper.

May 18, 2015
Editorial, Business, Safety, Government

Trucking Failures Slow in 3Q on Rates, Fuel, Report Says

A total of 9,090 trucks were taken off the road due to fleet bankruptcies in the third quarter, a slight decline from the second quarter, as rising freight rates and falling fuel prices helped keep some marginal fleets afloat, Avondale Partners analyst Donald Broughton said.

October 20, 2014
Business, Safety, Government

New Century’s Shutdown Leaves Workers Scrambling

New Century Transportation Inc., which reported $267 million in revenue last year but was plagued by funding problems, abruptly shut down and filed for bankruptcy last week, leaving nearly 1,600 workers scrambling to find new jobs.

June 16, 2014
Business, Safety, Government

New Century Files for Bankruptcy, Plans Liquidation

New Century Transportation Inc.

New Century Transportation Inc. has filed for bankruptcy, and the less-than-truckload and truckload carrier intends to sell its assets after closing its doors earlier this week.

Transport Topics
June 12, 2014
Business, Safety, Government

American Roads LLC Files for Bankruptcy

The bankruptcy filing by the private owner of four Alabama toll roads and the operator of the Detroit-Windsor Tunnel is not expected to have any immediate effects on freight haulers, officials said.

August 5, 2013
Business, Safety, Government

Battery Manufacturer Exide Technologies Files for Bankruptcy

Heavy-duty truck and automobile battery manufacturer Exide Technologies filed for bankruptcy after environmental regulators in California shut down one if its lead-recycling plants, Bloomberg News reported Monday.

Transport Topics
June 10, 2013
Business, Safety, Government

Trucking Failures Decline

Truck fleet failures continued to decline early this year, despite high diesel prices that stubbornly remained above $4 per gallon, according to a new report.

May 7, 2012

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