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Wave of trucking bankruptcies, layoffs exceeds 600 jobs

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Multiple trucking and logistics companies filed for bankruptcy protection in recent days, with layoffs and facility closures affecting more than 600 workers across Illinois, Tennessee, Maryland, North Carolina, and Michigan, according to FreightWaves. The filings include a mix of Chapter 11 reorganizations and Chapter 7 liquidations involving carriers, brokers, and logistics providers. Wisconsin-based Sparhawk Trucking Inc. and Sparhawk Truck and Trailer Inc. warned employees of potential layoffs or closure as the company seeks a buyer through bankruptcy. Sparhawk operates 178 trucks and employs 146 drivers according to FMCSA records. Other recent filings include Park Ridge, Illinois-based SP Trans Inc., which filed Chapter 11 in the Northern District of Illinois and reported between one and 49 creditors. The carrier operated 13 drivers as of May. Durham, North Carolina-based SB Hauling & Crane Services LLC filed Chapter 11 protection on May 29, specializing in construction hauling and debris removal. Hagerstown, Maryland-based M&L Express LLC filed Chapter 11 on May 29 with a historical fleet of nine tractors. Multiple carriers also entered liquidation. Elmwood Park, Illinois-based Boost Express Logistics Inc. filed Chapter 7 on May 29 with assets under $50,000 and liabilities between $500,000 and $1 million. Addison, Illinois-based Saturn Trucking Inc. filed Chapter 7 on May 31 with assets under $50,000. These failures occur despite recent freight market improvements, signaling ongoing financial strain for transportation providers across the sector.

Original article from FreightWaves
"Freight distress spreads as bankruptcies, layoffs top 600 jobs"
https://www.freightwaves.com/news/freight-distress-spreads-as-bankruptcies-layoffs-top-600-jobs
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