The shipping and logistics industry continues to grapple with the fallout of the “Great Freight Recession,” which began in March 2022. While rising truckload rates and an increase in tender rejections suggest economic improvement, bankruptcy filings remain frequent among major companies. Recently, KAL Freight, Star Transportation PA, Mighty Move Transportation, Sunset Logistics, and SBB Shipping USA all filed for bankruptcy, citing challenges such as rising costs, declining freight rates, and mounting debts. Some companies opted for Chapter 7 liquidation to cease operations entirely, while others, like SBB Shipping, seek Chapter 11 protection to reorganize.
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