In today’s volatile economy, it is vital to choose a factoring partner that can offer the financial support and expertise needed to navigate the complexities of Chapter 11 bankruptcy.
With so many players in the trucking industry having to close, one company was able to recover from the brink of bankruptcy.
An Indiana trucking company that has filed for bankruptcy protection says a financing deal with a company providing the carrier factoring services is “critical” to continuing operations.
Western Global Airlines is starting with a clean slate after completing Chapter 11 bankruptcy, but still faces difficult market conditions.
In this edition: breaking down what the future for freight brokers looks like, which markets are claiming top spot and how LTL carriers performed.
Freighter operator Western Global got in financial trouble when the overheated air cargo market cooled off last year and nearly shut down this summer before getting a financial lifeline from creditors and filing for bankruptcy.
Western Global Airlines, struggling under a heavy debt load and weak market conditions, has filed for Chapter 11 bankruptcy protection in a Delaware court.
Western Global Airlines could be on the verge of Chapter 11 bankruptcy.
A Georgia-based trucking company, which reported a significant drop in revenue this year compared with the previous two years, filed for bankruptcy liquidation on July 14.
Cargo pilots at Western Global Airlines are in the difficult position of negotiating their first collective bargaining agreement as questions mount about the company’s ability to stay in business.
Western Global Airlines has hit hard times, losing Amazon as a primary customer, piling up debt and facing at least two lawsuits.
Ameritrans Express LLC, a contract delivery service for the U.S. Postal Service, has filed for Chapter 11 bankruptcy amid claims by some of its contractors that they have not been paid since March.
Western Global Airlines appears to be winding down operations for a potential bankruptcy.
Bed Bath & Beyond got pummeled by the supply chain crisis. The company is now targeting shipping lines for allegedly compounding its woes.
A Miami-based trucking company and freight brokerage, which also owns a CDL training school, filed for Chapter 11 bankruptcy protection.
A plan to allow 18-to-20-year-old truck drivers to haul interstate cargo got a sharp rebuttal at the Truckload Carriers Association (TCA) conference by Knight-Swift President and CEO David Jackson. The plan was conceived as a way to address the driver shortage and is strongly supported by the Biden administration and the American Trucking Associations (ATA).
Former Celadon trucking officials have settled a fraud case with the Securities and Exchange Commission.
The largest trucking companies that went bankrupt in 2022 freight recession
New details have emerged about United Furniture’s financial health and why its lender, Wells Fargo Bank, filed a petition on Friday to force the furniture company into Chapter 7 proceedings after its abrupt shutdown.
United Kingdom sanctions put CargoLogicAir on verge of going out of business.
Navarro Trucking Group, which pulled intermodal containers out of the ports of Los Angeles and Long Beach, has folded and filed for Chapter 7 bankruptcy.
The federal government made SPAC-sponsored Nikola founder Trevor Milton an example of corporate greed. Will others follow?
FreightWaves founder and CEO Craig Fuller analyzes truckload contract rates and where they may be headed.
An Illinois-based trucking company has filed Chapter 11, citing a jury award of $10 million in December following a 2019 fatal truck crash involving one of its drivers.
A look at the end of Central Freight Lines, the port congestion blame game between drivers and officials, and investments no one asked for.
A Mississippi-based trucking company filed Chapter 7 bankruptcy on Tuesday, more than a year after its operating authority was revoked by the Federal Motor Carrier Safety Administration.
Trucking companies, logistics firms and suppliers may be left in a lurch after an auto parts supplier filed bankruptcy after losing GM as a client.
Instapay, a factoring company, and its parent company Flexible Funding are seeking Chapter 11 bankruptcy protection, according to court filings with the U.S. bankruptcy court in Fort Worth, Texas.
About 180 truck drivers being laid off in Texas, New York and California.
GDC Technics has laid off 223 workers and filed for Chapter 11 bankruptcy after losing a Boeing contract.
A California freight forwarder filed Chapter 7 bankruptcy last week, collectively owing transportation and logistics companies more than $884,000.
Concurrent to insolvency discussions, Greensill is considering the sale of its operating business to Apollo Global Management Inc. for $100 million, according to a report.
The owner of two defunct California trucking companies, Royal Flush 89 Transport and Cuevas Transport, filed for Chapter 7 bankruptcy on Wednesday.
Despite a last-minute pardon by former President Donald Trump in his criminal case, tech pioneer Anthony Levandowski’s legal woes continue after he was forced to file for bankruptcy protection on […]
Court-approved access to $2.45 billion is expected to help the South American carrier weather the pandemic.
In today’s edition of The Daily Dash, FMCSA will study the use of interstate commercial truck drivers under the age of 21. Plus, a bankrupt oil company has left carriers facing an uncertain future, and trucking sector employment is starting to rise.
Bainbridge Uinta, an oil and gas exploration and production company headquartered in Dallas, filed for Chapter 11 bankruptcy in Fort Worth, Texas, on Tuesday.
In today’s edition of The Daily Dash, experts discuss how trucking will get to an electric future, Mack Trucks lays off 450, and a trucker allegedly kidnaps his wife, leading police on a wild chase.
Virgin Atlantic is recapitalizing without support from the U.K. government thanks to internal and external investors and creditors.
Airlines are leaning heavily on governments for support until they can get back on their feet once the COVID crisis subsides. Next up: KLM.
Deluxe Express filed for bankruptcy protection, citing skyrocketing insurance rates, fatal crash.
Airlines are sweating the coronavirus pandemic despite the recent upturn in travel. El Al says it might fail and Aeromexico went the bankruptcy route.
Some small and mid-size airlines are filing for bankruptcy, or going out of business. Lufthansa is a major airline and it too is on the ropes.
LATAM Airlines Argentina is closing, but the move won’t impact international travel.
The Illinois-based carrier is being sued by its principal lender and landlord for failing to pay its financial obligations.
LATAM Airlines is looking for protection from creditors as it downsizes, something that all airlines are trying to figure out how to do in the face of a pandemic that has wiped out travel demand.
Car rental giant Hertz files for Chapter 11 bankruptcy protection after failing to reach an agreement with creditors; blames COVID-19 pandemic for economic freefall
Abduvosit Razikov, chief executive of DM World, who was individually named in the breach-of-contract lawsuit, isn’t new to the trucking industry, having started at least four companies in Florida since 2008.
Buyers are considered “stalking horses” under section 363 of bankruptcy law,
A U.S. federal court on Monday agreed on an interim basis to Avianca Holdings SA’s initial motions to voluntarily reorganize under court-supervised bankruptcy protection. Latin America’s second-largest airline sought bankruptcy […]
Bankruptcy law changes passed just in time; will trucking companies use them?
People go to the hospital to get better from coronavirus. Avianca is going to a different emergency room – bankruptcy court., so it can downsize in a safe way . It is a major Latin American carrier with a cargo division that operates its own fleet of freighters.
The timing of the law is perfect for an industry that needs help.
Small fleets file for Chapter 7 bankruptcy in April
Social distancing will wreak havoc on trans-Pacific and Asia-Europe box volumes.
How drivers are dealing with coronavirus, TQL layoffs and legal implications, staffing in a crisis and more on today’s podcast
Rolling cuts are roiling the airline industry, which is seeking a federal bailout to stave off workforce reductions
Anthony Levandowski still faces criminal charges after federal prosecutors allege he stole secrets about Google’s self-driving arm.
Court orders pave the way for bankrupt Celadon to move forward with existing deals to sell two Canadian properties of Hyndman Transport for a combined C$16.25 million — with a portion set aside for former truck drivers and other personnel.
Hey hey hey, welcome to the workin’ weekend! We never hesitate to jump right in and hit you with the headlines: TA Logistics claims Celadon was insolvent in late November […]
Lawsuit claims Celadon collected and spent $6.2 million in receivables belonging to TA Express LLC, alleges the company admitted it was insolvent weeks prior to filing for bankruptcy protection.
Celadon Group can’t sell off facilities without Canadian court’s OK, judge says as he prepares to place shuttered trucking company in receivership; ruling a victory for former employees, setback for U.S. creditors.
The flatbed and oil field service carrier was subject to a class action lawsuit for not paying overtime.
The carrier operated in two markets that have suffered in 2019: flatbed and oil service.
Celadon Group’s (OTC: CGIP) shutdown comes after cross-border shipping had already lost several other full truckload (TL) carriers this year that provided Mexico service. Matt Silver, founder and CEO of […]
225 employers have posted close to 500 jobs and counting.
Mexican carrier Jaguar Transportation stopped its trucking services this morning (Dec. 10) and could be shutting down as part of Celadon’s Chapter 11 filing Dec. 9. Several freight and logistics […]
Last Friday, December 6, FreightWaves reported that Celadon intended to file Chapter 11 bankruptcy and now the company has made it official. On the surface, it sounds like Chapter 11 […]
The sudden closure of Celadon has left thousands of lives impacted. To help those employees find work, FreightWaves has created a free job board where employees can post resumes and recruiters and fleets can post jobs.
Jaguar Transportation, the Celadon-owned carrier based in Mexico, says it will remain operational and continue its cross-border shipping. “Jaguar will operate in the same way it has been working. The […]
Shareholders of beleaguered U.K. trucking company Eddie Stobart have gone ahead and accepted a £55 million rescue deal that would help the company come out from the brink of administration. […]
Celadon Group was Scrooge for its drivers with the Christmas holidays around the corner, but the trucking community is stepping up to help in the season of giving.
Carrier blames rocky freight market, bad lease deal for latest bankruptcy woes.
The billion-dollar truckload carrier’s failure is one of the largest in industry history.
UNICEF continues delivering thousands of gallons of water per day as relief agencies struggle to continue operating amid Turkish offensive into Kurdish-controlled territory.
On today’s episode, a carrier downsizes while another files for bankruptcy, Forever 21’s bad luck, the GM strike and this week’s Pricing Power Index. Plus, Emily Szink knows what’s a […]
Cold Carriers was formed when KJM equity consolidated Gantt, Sunco, and Interide into a single operating portfolio.
A major accident in 2018 led to a spike in insurance premiums for Carney Trucking, an increase the company just couldn’t absorb.
A Durham, North Carolina-based logistics company filed for Chapter 11 bankruptcy reorganization on June 13.
Deal will grow U.S. last-mile business and add $100 million in annual revenue, Canadian transportation firm says.
In partnership with Slync… retailers are shifting to omnichannel strategies to survive disruptions from e-commerce, but implementing omnichannel requires sophisticated supply chain data analytics.
A U.S. trustee has asked the U.S. Bankruptcy Court to appoint a Chapter 11 trustee to oversee the operations of IPS Worldwide.
Revised package worth $3 million more.
Inside YRC’s fight with IPS Worldwide.
TFI International Inc. wants to expand its last-mile business with the assets of U.S. courier BeavEX, which is seeking bankruptcy protection.
Thousands of retail stores to shutdown this year; Amazon’s Whole Foods increases grocery prices citing inflation; U.S. retail sales record worst drop since 2009.
Sears was also a pioneer in all things omnichannel and what we now call last mile. Why did they fail to innovate this time around?
Sears Holdings, once the nation’s largest retailer, now appears to be headed for bankruptcy, according to the Wall Street Journal. The company has struggled to adjust as e-commerce has gained share in the retail space, and has begun to hire bankruptcy advisers to prepare for filing as soon as next week.
The closing of Toys ‘R’ Us is the latest sign of e-commerce’s dominance, and the absence of specialty stores may accelerate the move to online channels
Cashflow Corner presented by TriumphPay …When a customer refuses to pay their bill, or simply delays paying it, brokers and carriers alike can be stuck with a lack of cash on hand and few options.
Losses and debts can be a deadly combo for any shipping company to handle. In a report from the Wall Street Journal looking at so-called “zombie companies” in Europe, one logistics company stood out.
When one of your customers files for bankruptcy, do you know what to do? Taking the right the steps immediately can help ensure you will receive the money you are owed.
The first two weeks in after a bankruptcy filing of a customer are critical to ensuring you get paid. Trucking companies, especially smaller carriers and owner-operators, are often at the end of that line – the so-called unsecured creditors. But it doesn’t have to be that way.
When a major retailer such as Toys “R” Us files for bankruptcy, a long line of creditors comes knocking. Trucking companies, especially smaller carriers and owner-operators, are often at the end of that line – the so-called unsecured creditors. But it doesn’t have to be that way.
