Freight firms file for bankruptcy amid crisis
At least 21 freight and logistics companies filed for bankruptcy in the U.S. between late July and August 25, revealing financial strain across the sector from small trucking operations to large distributors.
Bankruptcies hit carriers of all sizes
The filings include Chapter 7 liquidations and Chapter 11 reorganizations, affecting businesses ranging from single-truck operators to those with hundreds of millions in assets. BFG Supply Co., an Indianapolis-based agricultural distributor, reported between $100 million and $500 million in both assets and liabilities in its August 18 Chapter 11 filing. The company estimated more than 100,000 creditors and operates a national network of 15 warehouses carrying more than 100,000 SKUs from over 1,000 manufacturers. BFG had approximately 454 employees as of April.
Kings of the Road Transport in Florida filed for Chapter 7 on July 28 with only $77,000 in assets—all tied to vehicles and equipment—against $393,380 in liabilities. PLR Transport, another Florida-based company, showed one of the most severe imbalances: $21,520 in assets versus $5.33 million in liabilities, including over $5.25 million in unsecured claims.
Smaller carriers dominated the recent wave. Anchor South Transport, an Alabama-based company with 14 trucks and 12 drivers, filed for Chapter 11 on July 28 with $1.4 million in assets and $2.2 million in liabilities. Court schedules put Anchor South’s assets at $1.396 million, including more than $1.1 million in machinery, equipment and vehicles. Black Lion Transportation and Truck Repairs in Georgia, using Subchapter V—a streamlined Chapter 11 process for small businesses—filed for Chapter 11 bankruptcy on July 29 with assets and liabilities between $100,001 and $500,000. Its creditor list includes Renasant Bank, which held claims tied to a 2023 Peterbilt 579 and two 2023 Great Dane trailers.
DD Freight Express filed for Chapter 7 on July 27 with $223,000 in assets against $2,930 in liabilities.
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Logistics and warehousing also under pressure
Financial stress wasn’t limited to trucking. Stoneman Trucking LLC of Michigan filed for Chapter 11 protection on August 11 under Subchapter V. Its schedules list about $1.03 million in assets against $892,187 in liabilities, including $774,000 in secured claims and $118,187 in nonpriority unsecured claims.
The pattern resembles past freight cycle downturns, where smaller operators typically fail first while larger firms grapple with debt. Even companies with diversified operations face industry-wide pressures. Some filings appear routine, with businesses using court protection to restructure rather than close.
Uneven impact across the sector
PJM Distributors in Florida filed for Chapter 7 on August 12 with $125,087 in assets and $464,342 in liabilities. The filing noted no funds would remain for unsecured creditors after administrative costs.
Aneiro’s Trucking LLC of California, R3 Hauling LLC of Illinois, and AP Freight Inc. of Illinois also sought liquidation during this period.
Many businesses are attempting to reorganize under court protection. Success may hinge on whether freight demand recovers quickly or if the pressures prove long-term. Meanwhile, port operations have maintained stability despite broader industry challenges.
