5 Chapter 11 filings in transportation in October’s first 2 weeks

Core Insights - The first half of October has seen a notable increase in Chapter 11 filings within the transportation sector, with a mix of small and medium-sized companies filing for bankruptcy protection [1] Company Summaries GEC Transport Solutions - GEC Transport Solutions, founded in 2015 and based in Pharr, Texas, has 70 power units and filed for Chapter 11 protection earlier this month [2][3] - The company reported total assets and liabilities between $1,000,001 and $10 million, indicating no funds will be available for unsecured creditors after administrative expenses [3] - GEC's out of service (OOS) rates for vehicles and drivers are 13% and 3.3%, respectively, both below national averages [3] Propel Trucking - Propel Trucking, operating under multiple names, filed for Chapter 11 in the Eastern District of Arkansas, with estimated assets of zero to $50,000 and liabilities between $1,000,001 and $10 million [5] - The largest creditor is BMO Bank NA, with an unsecured claim of approximately $693,928.46, highlighting BMO's significant role in the trucking sector [6] - Propel's OOS percentage for inspections is 32%, significantly higher than the national average, while the driver OOS percentage is 15.7% [7] R&R Transport & Logistics - R&R Transport & Logistics, based in Houston, operates as a carrier/broker and should not be confused with a larger Pittsburgh-based carrier of the same name [8]