Denton, Texas-based Titus Transportation has filed for Chapter 11 bankruptcy
, according to reports by The Hutchinson News. The company, which has contracted with Dillon Stores since 2008, will try to reorganize.
The dry van and refrigerated carrier filed the petition Friday, and also asked the court to allow the company to pay outstanding amounts to drivers and certain suppliers before the filing and to continue to do so, the publication reports. The court was expected to address that motion Wednesday morning.
The company owes nearly $2.2 million to more than 200 businesses, including more than $1 million to six unsecured creditors, The Hutchinson News reports. Titus owes just under $500,000 to a Denton, Texas, couple, James and Mary Browne, the publication reported. Another $185,000 is also owed to Blue Cross Blue Shield of Dallas.
Titus also has offices in Hutchinson, Kan., Alamosa, Colo., Grottoes, Va., and Joplin, Mo.
A Dillons spokeswoman told The Hutchinson News that the filing should not affect its operations with the carrier. According to Titus' website, other customers include Coors, Paccar, Kroger, Wal-Mart, Supervalu, Food Lion and Sysco, to name a few. The website says the company's worth $100 million a year. "Today Kroger considers us one of their top dedicated, DC-to-retail carriers," the website says.
The publication reports that the company owed about $557,300 in accrued wages, salary and other compensation to employees at the time of the filing. The company asked the court to allow it to continue to pay out benefits, including health and life insurance and a 401k match program.
, according to reports by The Hutchinson News. The company, which has contracted with Dillon Stores since 2008, will try to reorganize.
The dry van and refrigerated carrier filed the petition Friday, and also asked the court to allow the company to pay outstanding amounts to drivers and certain suppliers before the filing and to continue to do so, the publication reports. The court was expected to address that motion Wednesday morning.
The company owes nearly $2.2 million to more than 200 businesses, including more than $1 million to six unsecured creditors, The Hutchinson News reports. Titus owes just under $500,000 to a Denton, Texas, couple, James and Mary Browne, the publication reported. Another $185,000 is also owed to Blue Cross Blue Shield of Dallas.
Titus also has offices in Hutchinson, Kan., Alamosa, Colo., Grottoes, Va., and Joplin, Mo.
A Dillons spokeswoman told The Hutchinson News that the filing should not affect its operations with the carrier. According to Titus' website, other customers include Coors, Paccar, Kroger, Wal-Mart, Supervalu, Food Lion and Sysco, to name a few. The website says the company's worth $100 million a year. "Today Kroger considers us one of their top dedicated, DC-to-retail carriers," the website says.
The publication reports that the company owed about $557,300 in accrued wages, salary and other compensation to employees at the time of the filing. The company asked the court to allow it to continue to pay out benefits, including health and life insurance and a 401k match program.
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