Bankruptcies and layoffs slam wide range of transportation companies

May 01, 2025 at 04:14 PM CST
Layoffs and bankruptcies hit multiple sectors of the supply chain throughout April, as new or soon-to-be-imposed tariffs continue to weigh on freight markets. Truck & Trailer Leasing Avenue of Joliet, Illinois, filed for Chapter 11 bankruptcy on April 16 in the U.S. Bankruptcy Court for the Northern District of Illinois. The company stated in the petition that it has both assets and liabilities of $10 million-$50 million and said that money would be available to pay unsecured creditors. The largest unsecured creditors are Bank Midwest of Kansas City, Missouri, owed about $818,000, and De Lage Landen Financial Services, owed about $623,000.

May 01, 2025 at 04:14 PM CST

Layoffs and bankruptcies hit multiple sectors of the supply chain throughout April, as new or soon-to-be-imposed tariffs continue to weigh on freight markets.

Truck & Trailer Leasing Avenue of Joliet, Illinois, filed for Chapter 11 bankruptcy on April 16 in the U.S. Bankruptcy Court for the Northern District of Illinois.

The company stated in the petition that it has both assets and liabilities of $10 million-$50 million and said that money would be available to pay unsecured creditors. The largest unsecured creditors are Bank Midwest of Kansas City, Missouri, owed about $818,000, and De Lage Landen Financial Services, owed about $623,000.