Distressed trucking company closes after 40 years, | Global Market News
The trucking industry’s Great Freight recession has led to dozens of trucking company bankruptcies over the past three years.The second quarter of 2025 had not less than 17 chapter filings alone, Equipment Finance News reported.But not all distressed trucking firms that closed down additionally filed for chapter. There are loads of examples of firms that shut down with out submitting a chapter petition.Related: Iconic trucking company closes down business permanentlyRegional trucking company Davis Express Inc., which had 160 vehicles and 140 drivers, closed its business completely in April 2025 after making its last deliveries on April 23 and returning all vehicles to its terminal by April 30.The Florida-based company, which operated in Florida, Alabama, Georgia, and South Carolina, had been unprofitable since 2023, and the proprietor didn’t anticipate to see enchancment in 2025.LTI Trucking closes down with 250 drivers employedMadison, Ill.-based LTI Trucking, with about 250 drivers, 300 tractors, and 575 trailers, ceased operations on April 2, 2025, and didn’t file for chapter safety.LTI, which was a main shipper of merchandise for AB InBev, KraftHeinz, Vlasic, Hershey’s, Nestle, Tyson, Hillshire Farm, Kroger, Hostess, and Sara Lee, didn’t state a cause for closing down.And now, long-established drayage and logistics supplier TGS Transportation Inc. has shut down all operations after 40 years within the business.Trucking firms shut down in 2025:
TGS Transportation closed down operations as a result of of difficult market situations.Image source: Shutterstock
TGS Transportation closes after 40 years in businessAnd now, drayage and logistics company TGS Transportation Inc. has shut down its amenities after 40 years in business.The Fresno, Calif.-based trucking company revealed in a July 31 LinkedIn message that it was closing down operations instantly as a result of of difficult market situations.It didn’t file for chapter.”It is with profound sadness and a heavy heart that TGS announces the official closure of its operations, effective July 31, 2025,” the message mentioned.Related: Major parcel delivery company closes down, no chapter”After four decades of dedicated service to the transportation industry, we will be parking our trucks for good,” the message continued.More closings:
TGS Transportation added that some former staff of the company will proceed working with a new company.Former staff plan to proceed with a new company”While TGS is closing, we are pleased to inform you that some members of our dedicated team will continue to serve the industry under a new flag,” the message mentioned.”We can be sharing more detailed details about Founder Timothy G. Schneider launched TGS in Fresno in 1985, and his son Peter joined the operations in 1993.TGS Transportation expanded through the years In addition to the Fresno headquarters, TGS expanded through the years to amenities in Carson, Calif., and Reno, Nev.TGS operated 20 vehicles with 20 drivers, in accordance with the Federal Motor Carrier Safety Administration’s SAFER web site.The company shipped basic freight, metallic merchandise, building supplies, machinery, contemporary produce, meat, refrigerated food, drinks, grain, feed, hay, agricultural and farm provides, paper merchandise, dry bulk commodities, chemical substances, liquids, and gases.Trucking company bankrupcies in June and July
Over the final two months, a number of smaller trucking firms, which have struggled within the Great Freight Recession, had been compelled to file for (*40*) 11 chapter, together with Hoffman Estates, Ill.-based Lynda Transportation Inc. on July 9; Toledo, Ohio-based TJ Trucking on July 11; and Enid, Okla.-based Double H Services LLC on July 14.In June, Bloomingdale, Ill.-based trucking company Integral Express filed for (*40*) 11 chapter safety on June 15, Orlando, Fla.-based GD Transport LLC filed for chapter on June 16, and Corpus Christi, Texas-based JJJ Convoy filed for (*40*) 11 safety on June 20. 💵💰Don’t miss the transfer: Subscribe to TheRoad’s free day by day e-newsletter 💰💵
Stay up to date with the latest news within the world markets! Our web site is your go-to source for cutting-edge financial news, market trends, financial insights, and updates on worldwide trade. We present day by day updates to make sure you have entry to the freshest data on stock market actions, commodity costs, currency fluctuations, and main financial bulletins.
Explore how these trends are shaping the long run of the worldwide financial system! Visit us commonly for probably the most partaking and informative market content material by clicking right here. Our fastidiously curated articles will keep you knowledgeable on market shifts, investment methods, geopolitical impacts, and pivotal moments in world finance.
