Related: GDS Express Files for Bankruptcy, Cites Lack of Credit
Comcar Files for Chapter 11, Selling Off Assets
Comcar Industries, the parent company for five national truck transportation and related services businesses, has announced its intent to sell its various operating companies, recently filling for Chapter 11 protection to facilitate these sales.
May 18, 2020
Image: Comcar
1 min to read
Comcar Industries, the parent company for five national truck transportation and related services businesses, has announced its intent to sell its various operating companies, recently filling for Chapter 11 protection to facilitate these sales.
As a result of separate agreements, CT Transportation LLC will be sold to PS Logistics, LLC; CTL Transportation LLC will be sold to Service Transport, Inc.; and MCT Transportation LLC will be sold to White Willow Holdings. Comcar has also entered into a letter of intent for the sale of CCC and CTTS Repair.
“Our decision to file Chapter 11 was to better enable us to find homes for our customers, people, and assets,” according to a statement from the Comcar senior management team. “We believe this will best maintain opportunities for our people, continue to serve our customers, and maintain vendor relationships.”
During the process, Comcar expects to conduct business as usual on a day-to-day basis, with the management of procedural activities overseen by the bankruptcy court.
More Fleet Management
Jamie Hagen Gets Real About Running a Small Fleet in an Uncertain Economy
Small fleet owner Jamie Hagen says new legal risks, volatile fuel prices, and a changing freight market are forcing small carriers to rethink how they operate -- and what they can afford.
Read More →
Jamie Hagen Gets Real About Freight, Fuel Prices, Safety, and Small-Fleet Survival
Running a small trucking fleet right now isn’t easy, especially right now. And Jamie Hagen doesn’t sugarcoat it.
Read More →
Jamie Hagen Gets Real About Freight, Fuel Prices, Safety, and Small-Fleet Survival
Running a small trucking fleet right now isn’t easy, especially right now. And Jamie Hagen doesn’t sugarcoat it.
Read More →
Data Lock‑In or Integration Lock‑Out?
Data fragmentation is costing dealerships, OEMs, fleets, and upfitters millions. Here’s why interoperability may be the fix the trucking industry needs.
Read More →
What Trucking Fleets and Brokers Need to Know About This Supreme Court Case
In May, the U.S. Supreme Court ruled that freight brokers can be held liable for damages if a truck they have contracted with is involved in an accident. Listen as this transportation attorney breaks down the ruling and its implications for the trucking industry.
Read More →
The Trucking Industry’s Threat Intelligence Gap
The trucking industry has no shortage of cybersecurity reports and cargo crime statistics. What it lacks is timely, operational intelligence that fleets can actually use.
Read More →
Truck Crash Rates Are Down. So Why Do Insurance Costs Keep Rising?
ATRI’s latest research points to litigation, social inflation, and soaring claims costs as key drivers behind record-high liability premiums for trucking fleets. But there are things motor carriers can do.
Read More →
ATA Truck Tonnage Holds Steady in April at Highest Levels Since 2022
ATA’s For-Hire Truck Tonnage Index was unchanged in April after a strong March gain, with freight volumes remaining at their highest levels since late 2022.
Read More →
Fleetworthy Launches Connected Platform for Fleet Readiness Across Safety and Compliance, Toll Management, and Weigh Station Bypass
Fleetworthy has unveiled three major product launches it says mark a new era in fleet readiness.
Read More →
Behind the SCOTUS Broker Ruling Part 1
Transportation attorney Greg Feary breaks down the recent Supreme Court decision that brokers can be held liable for damages in truck accidents and what it means for the trucking industry going forward.
Read More →