breaking

Trucking bankruptcies accelerate as sector grapples with persistent headwinds

A wave of insolvencies swept through the trucking and logistics sector this week, with multiple carriers and service providers filing for bankruptcy protection across five states. The filings underscore ongoing financial stress in transportation despite recent freight market stabilization. SP Trans Inc., a Park Ridge, Illinois general freight carrier, filed for Chapter 11 reorganization June 2 with assets and liabilities ranging from $500,000 to $1 million. The company operated 13 drivers before filing. SB Hauling & Crane Services LLC, a Durham, North Carolina specialist in construction hauling and debris removal, sought Chapter 11 protection May 29. M&L Express LLC, a Hagerstown, Maryland long-distance carrier, also filed May 29. The company historically operated nine tractors and logged over 1 million annual miles. Additional filings included a Wayne, Michigan freight brokerage. Sparhawk Trucking, which operates 178 trucks and employs 146 drivers, issued employee warnings of potential closures or layoffs as bankruptcy restructuring continues.