Trucking companies operate in a challenging financial environment, where even minor shifts in market conditions can result in major impacts on cash flow and solvency. Rising insurance premiums, fluctuating fuel prices, maintenance costs and driver shortages all create...
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Chapter 11 For Trucking Companies
4 advantages of filing for Chapter 11 for a trucking company
If financial storms threaten to capsize your Florida trucking business, Chapter 11 bankruptcy can serve as a lifeline. From fluctuating fuel costs to rising insurance premiums, these pressures can push even well-managed operations to the brink. This legal option...
What happens when trucking companies file for bankruptcy?
People often say that there is great money in the commercial transportation industry because they hear about the salaries that semi-truck drivers command or learn about how much of the domestic economy depends on over-land transportation. In reality, many...
Regaining control over your trucking company’s debts
Operating a lucrative commercial transportation or trucking company isn't as easy as people think. When the average person sees what businesses will pay to have a load hauled from one coast to the other, they might assume that the profit margins in the trucking...
Protect your fleet from repossession with a timely bankruptcy
Those who have never worked in the commercial transportation industry have no concept of how valuable commercial trucks really are. The average person would likely express shock to learn that recently manufactured 18-wheelers could cost as much as a home, possibly...
Celedon Group Inc.’s bankruptcy: What it says about the trucking industry
Trucking companies sometimes struggle with their finances. In some cases, those companies go under. That’s what happened in the case of Celadon Group Inc., which was formerly located in Indianapolis. The trucking company filed for bankruptcy back in December 2019,...
Trucking faces recession: why you may need Chapter 11 bankruptcy
You work hard to make your trucking company successful. Over the years, you've learned to control many small problems that threaten your success. But you may struggle to control larger issues like a downturned economy or high insurance rates. When these problems put...
Can Chapter 11 Bankruptcy benefit struggling trucking companies?
There are semi-trucks on the highway or freeway every day, so does it come as a surprise to hear the trucking industry is suffering? When these trucks go “too” slow, you may think they’re a nuisance, but you should consider the people behind the wheel. Many truck...