The trucking industry has faced economic challenges, known as the Great Freight Recession, for almost four years, as firms battle reduced shipping demand, lower freight rates, and rising costs of labor, fuel, and insurance driven by inflation.
Long-haul truckload demand plummeted by 25% in the first half of 2025, with trucking becoming more of a short-haul delivery method for the final leg of freight movement, according to the Long Outbound Tender Volume Index, FreightWaves reported.
Freight companies filed 21 bankruptcy petitions in the third quarter of 2025 compared to 20 filed in the second quarter, Equipment Finance News reported. Fourth-quarter statistics were not available at last check.
Expert predicts recovery soon
Some industry executives predict trucking sector conditions will improve in 2026.
“I think we’re at least in the late stages and maybe starting to come up,” Doug Waggoner, CEO of Echo Global Logistics.
Waggoner believes the trucking industry will soon improve, likely after the first quarter of 2026, he told Logistics Management.
“But traditionally, January and February are the slowest months of the year,” Waggoner said.
Many bankrupt freight companies
The list of interstate freight companies that have filed for bankruptcy protection in 2026 is lengthy.
Long-distance freight carrier and logistics company Bulmaks Inc. filed for Chapter 11 bankruptcy protection on Jan. 5 to reorganize its business and continue operating.
Also in January, one of the largest this year, STG Logistics Inc., filed for Chapter 11 protection on Jan. 12 to restructure about $1.2 billion in debt and seek a sale of its assets, and Robert Bearden Trucking filed a Chapter 11 voluntary petition in U.S. Bankruptcy Court on Jan. 26, according to PacerMonitor.
Bankruptcy filings continued into February as Dallas-based Newkirk Logistics Inc. filed its Subchapter V Chapter 11 petition in the U.S. Bankruptcy Court for the Northern District of Texas in Fort Worth on Feb. 4, according to Public Access to Court Electronic Records, as reported by BankruptcyObserver.
Kansas-based trucking company Mast Trucking Inc., which operates 55 trucks with 56 drivers, filed for Chapter 11 bankruptcy on Feb. 10 to reorganize its business, Trucking Dive reported.
Tacoma, Wash.-based Bee & G Enterprises LLC, a smaller firm that operates seven trucks with six drivers according to SAFER, filed for Chapter 11 bankruptcy on Feb. 14.
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Standard Freight Logistics files Chapter 11
And now, interstate trucking company Standard Freight Logistics Inc. has filed for Chapter 11 bankruptcy to reorganize its business and continue operating.
The St. Augustine, Fla.-based freight company filed its Subchapter V petition in the U.S. Bankruptcy Court for the Middle District of Florida in Jacksonville on Feb. 23, listing $100,000 to $1 million in assets and liabilities, according to Public Access to Court Electronic Records as reported by Bankruptcy Observer.
More bankruptcies:
- 73-year-old family diner franchisee files Chapter 11 bankruptcy
- More troubled regional airlines file for Chapter 11 bankruptcy
- Major department store brand liquidates in Chapter 11 bankruptcy
The debtor did not state a specific reason for filing for bankruptcy.
Standard Freight Logistics operates from a location at 4222 Iona Way, Knoxville, Tenn., according to the company’s Federal Motor Carrier Safety Administration SAFER filing on Feb. 25.
Trucking firm hauls government goods
The company, founded in 2007, hauls private property, such as furniture and appliances, and freight for federal, state, and local governments, according to the SAFER filing.
Media reports said the company operated 49 power units, but the SAFER filing said the company has 15 power units, or trucks, and 57 drivers.
Standard Freight Logistics bankruptcy:
- Standard Freight Logistics Inc., Chapter 11 Subchapter V, U.S. Bankruptcy Court for the Middle District of Florida in Jacksonville on Feb. 23, per Bankruptcy Observer
- $100,000 to $1 million in assets and liabilities
- Founded in 2007
- Operates 15 power units (trucks) and 57 drivers, according to SAFER
Related: Another distressed trucking company files Chapter 11 bankruptcy
