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APL Cargo bankruptcy adds to the list of trucking company hits in recent years. Read about the industry struggles and major closures from the past five years.
APL Cargo, an Indiana-based trucking company with 122 drivers and 142 power units, has filed for Chapter 11 bankruptcy.
The filing comes amidst financial difficulties and a pending lawsuit alleging misclassification of drivers. APL Cargo's bankruptcy adds to a growing list of trucking companies that have faced closure in recent years due to economic pressures and industry challenges.
APL Cargo filed for Chapter 11 bankruptcy protection on June 2, 2024, in the U.S. District Court for the Northern District of Indiana.
The trucking industry has been hit hard over the past five years, with several significant closures:
The wave of bankruptcies and closures highlights ongoing challenges in the trucking industry, including economic pressures, regulatory burdens, and market fluctuations.
As freight demand continues to face uncertainties, many wonder if the industry will see more companies fold or if there will be a rebound.
Sources: FreightWaves | CDLLife
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