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trucking company filed Chapter 7 bankruptcy on Tuesday, more than a year after its operating authority was revoked by the Federal Motor Carrier Safety Administration.
A Louisiana trucker was recently sentenced to nearly six years in prison for drug trafficking. Rusty Ross Honore received a PPP loan two months after he was arrested by the feds in Dec. 2020.
Great Lakes Petroleum Transportation of Alma, Michigan, which hauls crude oil, filed for Chapter 11 bankruptcy protection. The trucking company has 59 power units and 49 drivers.
Swift Transportation founder Jerry Moyes has been tapped to lead LTL carrier Central Freight Lines of Waco, Texas, which he owns.
Truckers are owed hundreds of thousands of dollars after Jamco Services LLC of Midland, Texas, filed for Chapter 11 protection on Wednesday.
Trucking companies are among the major unsecured creditors owed money after Eagle Manufacturing Inc. of Red Lake, Minnesota, filed Chapter 11.
A Texas-based carrier, Grimmett Brothers Inc., recently filed for Chapter 11 bankruptcy protection, owing small trucking companies thousands.
Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: 1,403 Texas trucking/freight-related companies received PPP loans; $4.2 million in drugs seized at Pharr port of entry; Visible SCM acquires TriCon; and Liftit raises $22.5 million in Series B funding.
PPP loans have been more prevalent for durable goods manufacturers relative to makers of nondurable goods.
Federal loan during the COVID-19 pandemic couldn’t keep Alabama-based Foster Freights LLC afloat, as it filed for Chapter 7 bankruptcy protection.
