Texas carrier Serna’s Trucking files for Chapter 11 bankruptcy

Company Overview - Serna's Trucking LLC, a Texas-based transportation provider, has filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Western District of Texas, seeking to reorganize its finances while continuing operations during the restructuring process [1][6] - The company was founded in 2006 by Claudia Serna and provides transportation services across Texas, operating from San Marcos with one driver and one power unit registered under its USDOT number [4][8] Financial Situation - The company's debts are reported to be below $3.4 million, qualifying it for small-business Chapter 11 restructuring under federal bankruptcy law [2] - Total assets are approximately $544,595, which includes trucks, equipment, cash, and accounts receivable [2] - The largest portion of assets, about $450,580, consists of machinery, equipment, and vehicles, with cash reported at roughly $7,999, accounts receivable at $43,767, and inventory at $12,619 [3] Creditors and Liabilities - Bankruptcy schedules list about 49 creditors, with total secured claims exceeding $194,000, primarily backed by trucks, trailers, and accounts receivable [5][8] - Secured creditors include Amur Equipment Finance, First United Bank, GM Financial, PeopleFund, and the Small Business Administration [7] Industry Context - Serna's Trucking is the latest small carrier to seek bankruptcy protection amid ongoing financial pressures in the trucking sector, characterized by elevated operating costs and uneven freight demand over the past two years [8]