- More than a dozen American trucking companies accounting for over 250 jobs have filed for Chapter 7 or Chapter 11 bankruptcy in the past month.
- Soaring diesel prices, which reached a record average of $6.53 a gallon following President Donald Trump's war with Iran, have severely driven up operational costs.
- Major firms including Xoco Transport and Globemaster are among eight companies seeking Chapter 11 protection to reorganize debts while continuing operations.
- Seven of the affected trucking businesses are completely liquidating their assets and shutting down through Chapter 7 bankruptcy proceedings.
- Industry analysts report that rising expenses for labor, insurance, maintenance, and regulatory compliance are further compounding financial pressures on haulers.
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