Another troubled shipping company files for Chapter 11 Bankruptcy
The distressed trucking company filed for bankruptcy after defaulting on a factoring agreement.
Financial hurt in the trucking and logistics industry on memoir of the Covid-19 pandemic has precipitated the Great Freight Recession, which resulted in transport firms launching both out-of-court docket restructurings or chapter filings.
A mix of enterprise components, equivalent to adversarial results triggered by the Covid pandemic, rising charges, low freight rates, a foul economic system, and a glut of vans and drivers, were cited because the explanations for loads of of the monetary issues.
What's Your Reaction?
