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TBL Logistics, a family-run trucking firm, files for Chapter 7 bankruptcy.
TBL Logistics, a small family-owned trucking firm based in Appomattox, Virginia, has hit a financial pothole, leading to a Chapter 7 bankruptcy filing.
Quick Hits:
Operational challenges seemed to have compounded, evidenced by the cancellation of their Bodily Injury Property Damage Coverage on January 20. This, along with two injury crashes in the past 24 months, may have contributed to the company's decision to file for bankruptcy on February 29.
According to documents, TBL creditors include Motive Technologies, Love's Travel Stops, and the IRS.
A creditors meeting is scheduled for March 26.
Source: FreightWaves
When you are in business and extending credit to customers, it’s your job to manage that credit.
— Kevin Rutherford / Let's Truck 🇺🇸 (@lets_truck) March 8, 2024
Do you know their credit history and payment history?
Do your research before you extend credit, and don’t let any one company get too deep into your pockets.
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