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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:
Fiscal Freeze: Assets and liabilities are in the range of $1 million to $10 million, with up to 49 creditors left hanging.
Operational Overload: The company had four power units and seven drivers.
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.
Hi! I'm Adriana and I've been working for FreightCaviar as Head Writer for a little over a year now. Some of my favorite topics to cover are FreightTech, Green Freight, and nearshoring/reshoring.
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