Industry Overview - The commercial truck industry has faced significant economic distress over the past year, leading to several companies shutting down operations and filing for bankruptcy protection due to high debt obligations, rising inflation costs, and elevated interest rates [1] Company-Specific Developments - Nikola Corp., a leader in battery electric and hydrogen fuel cell electric semi-trucks, filed for Chapter 11 bankruptcy on February 19, 2025, after incurring $44 million in losses due to a recall of all its BEV trucks to replace defective battery packs [2] - Bollinger Motors, which launched its commercial electric truck manufacturing in September 2024, ceased operations six months after emerging from receivership, missing two payroll periods in November 2025 [3][4] - Tonka International Corporation filed for Chapter 11 bankruptcy for the second time in over five years to reorganize its business, impacted by a glut in the used-machinery market affecting sales [5] - Tonka International first filed for Chapter 11 protection on March 9, 2020, listing up to $50,000 in assets and liabilities between $100,000 and $500,000 [7] - Tonka International specializes in the wholesale distribution of commercial trucks, trailers, boats, cranes, excavators, and heavy equipment, primarily serving the mining, energy, and construction sectors in North Texas [8]