Three Freight Companies File for Chapter 11; Creditors Lining Up for Millions

Another round of freight-related bankruptcies has hit the industry this week, with two trucking companies and a logistics provider seeking Chapter 11 protections and facing millions in creditor claims.

Dolche Truckload Corp. (Palatine, IL)

Filed Sunday in the Northern District of Illinois, Dolche Truckload listed:

• Assets & liabilities: $1–$10 million

• Top creditors:

  • M&T Bank: $950,290

  • SBA (Chicago): $495,000

  • Daimler Truck Financial: $121,620

• Fleet: 18 Freightliners, 16 Volvos, 36 trailers (reefer and dry van), valued at $1.92M

• SAFER data: 60 drivers, 57 power units, 37% out-of-service rate (vs. 22% national average)

Dolche hauls general freight, perishables, chemicals, and paper products. It reported four crashes in the past two years, including two with injuries.

Contract Managed Services (Louisville, KY)

Filed Monday in the Western District of Kentucky:

• Assets & liabilities: $1–$10 million

• Top creditors:

  • LIT Industrial LP: $1.19 million

  • SBA (Birmingham, AL): $1.16 million

  • Labor Solutions LLC: $259,914

The company provides warehousing and logistics support.

GD Transport LLC (Orlando, FL)

Filed Monday in the Middle District of Florida:

• Assets & liabilities: $1–$10 million

• Top creditors:

  • American Express: $62,570

  • Sumitomo Mitsui: $53,656

  • Chase Bank: $38,750

• SAFER data: 16 drivers, 16 power units, 31% out-of-service rate

• Cargo: General freight, building materials, grain, mail, beverages, farm supplies

Despite no crashes in two years, GD Transport’s high out-of-service rate raises performance questions amid financial strain.

Bankruptcy filings are mounting up across the sector, creditors and carriers alike are bracing for potential ripple effects across the supply chain. Here is another bankruptcy you can read about that happened in the month of May.

Source: FreightWaves