30-year-old shipping company files Chapter 11 bankruptcy

The Great Freight Recession, which has forced companies to file for bankruptcy or to go out of business since 2022, continues to victimize trucking and logistics companies. Many of the companies have blamed reduced shipping demand, lower freight rates, and rising costs of labor, fuel, and insurance, which have impacted revenues and profits. The good news is that consumers might find better prices to ship goods, though the industry could lose some businesses if demand and rates don't improve and inflatio ...