Another major trucking company files Chapter 11 bankruptcy

The Great Freight Recession has been characterized by astronomical statistics that seem unreal.

Over the last two years, thousands of trucking companies and freight brokerage firms have permanently closed their businesses, and the situation is not expected to improve if the Trump Administration pushes forward with its tariff proposals for international trade partners.

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About 88,000 trucking companies and 8,000 freight brokerage firms ceased operating in 2023, Freight Caviar data revealed. Last year, the trucking sector reported a net loss of about 10,000 carriers in the first half of 2024, according to TruckInfo.net.

Related: Major trucking company files Chapter 11 bankruptcy to restructure

The American Trucking Associations was confident that the industry would improve in 2025 as it projected in its annual freight forecast released in January that truck volumes would grow 1.6% this year after two years of declines.

That report, however, was completed before the Trump administration’s tariff plans were fully revealed, and since then, several trucking companies have already filed for either Chapter 11 reorganization or Chapter 7 liquidation bankruptcies this year.

Some have ceased operating their businesses without filing for bankruptcy, such as Michigan-based trucking company Equity Transportation Co. Inc., which had 100 drivers and 109 power units. The company laid off all of its drivers and ceased operations in March, according to several sources with knowledge of the situation, FreightWaves reported.

Another huge trucking and logistics company LTI Trucking Services informed its 250 drivers on April 2 that it was shutting down its operations. The company said that it had exhausted all options made a difficult decision to close the company.

Florida-based trucking company Davis Express Inc., with 160 trucks and 140 drivers, revealed on its Facebook page that the company was shutting down its business permanently after making its final deliveries on April 23 and returning all trucks to its terminal by April 30.

The owner of the company said he will retire and does not want to wait any longer for the business to turn around or to find a buyer. The founder’s family is no longer interested in continuing the business due to industry challenges, he said.

Trucking companies file for bankruptcy

Major trucking companies with dozens of drivers, tractors, and trailers have also filed for bankruptcy in the first half of the year, including transportation and logistics company Balkan Express and its affiliate Balkan Logistics filed for Chapter 11 bankruptcy to restructure their debts on April 30.

Balkan Express operates 159 power units and employs about 166 drivers who ship general freight, including beverages.

And three trucking companies that are not affiliated filed for Chapter 11 bankruptcy on April 7, 2025, including C&C Freight Network of Braselton, Ga.; Dedham, Mass.-based Best Choice Trucking LLC, and Memphis, Tenn.-based Best Logistics Inc., which all filed for bankruptcy to restructure their debts.

AZA Transportation files for bankruptcy

Finally, the Great Freight Recession has dragged down another trucking company as AZA Transportation Inc. has filed for Chapter 11 bankruptcy to reorganize its business.

Related: Classic auto parts company files for Chapter 11 bankruptcy

The Mount Prospect, Ill., trucking and freight transportation company filed its Subchapter V petition on May 14 in the U.S. Bankruptcy Court for the Northern District of Illinois, listing $100,000 to $500,000 in assets and $500,000 to $1 million in liabilities.

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The company’s creditors include merchant cash advance lenders, equipment finance companies for their trucks, fuel vendors, and tollway authorities.

The company operates 70 trucks and employs 71 drivers, according to the Federal Motor Carrier Safety Administration’s SAFER website, consisting of a fleet of Freightliner Cascadia and Volvo sleeper tractors and flatbed trailers. The company provides interstate transportation services in several states, including Illinois and Oklahoma.

Related: Another major healthcare company files Chapter 11 bankruptcy

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