Core Viewpoint - STG Logistics has filed for Chapter 11 bankruptcy to restructure and reduce its debt by nearly $1 billion, entering into a restructuring support agreement with lenders that eliminates approximately 91% of its debt and provides $150 million in new debtor-in-possession financing [1][2]. Group 1: Bankruptcy Filing and Restructuring - The company filed for Chapter 11 in a New Jersey bankruptcy court, aiming to reduce its debt load by approximately $952 million [1]. - STG intends to utilize the new capital to support core business operations during the Chapter 11 process and expects to exit bankruptcy in five months [2]. Group 2: Ownership Changes and Management Statements - The debt-for-equity swap will lead to new ownership by private equity firms Antares Capital, Fortress Investment Group, and Invesco, who will exchange their debt claims for stakes in the business post-bankruptcy [3]. - The CEO of STG Logistics stated that it is "business as usual" and that the restructuring will not impact service levels for customers, vendors, and partners [3]. Group 3: Operational Continuity - All facilities remain open and operational, with day-to-day roles, responsibilities, and wages unchanged, allowing STG to continue booking, scheduling, and fulfilling shipments [4]. - The company has filed "first day" motions to ensure continued payment of employee wages and benefits, maintain customer programs, and execute ordinary business functions [4].

The nation’s fourth-largest asset-based intermodal marketing company, STG Logistics, filed for Chapter 11 bankruptcy protection in a New Jersey federal court on Monday. The pre-negotiated plan wipes out 91% of the company’s nearly $1 billion debt load and gives it $150M in new capital to support core business operations and to pay employees and vendors. The debt-for-equity deal with sponsors and lenders is not a wind down. The company expects to emerge from bankruptcy in approximately five months. “The ...

CMA CGM Group has acquired the intermodal logistics business of U.K.-based rail cargo company Freightliner, further expanding the ocean carrier’s presence in the country. Financial terms of the transaction were not disclosed. As part of the deal, CMA CGM will purchase Freightliner’s U.K. rail and road operations, its 10 inland terminals, as well as the Freightliner brand. More from Sourcing Journal The transaction is expected to close in early 2026, subject to the required regulatory approvals. Freightl ...