85-year-old Indiana trucking company files for Chapter 11

Freight Waves ^ | 9/25/23

[EBH]

An 85-year-old Indiana-based trucking and logistics company and its affiliates recently filed for Chapter 11 bankruptcy protection less than nine months after it was acquired by private-equity firm Transport Acquisitions.

Founded in 1938, Otwell, Indiana-based Elmer Buchta Trucking, which offers bulk, dry van and pneumatic trucking services, has 100 drivers and more than 230 power units, according to the Federal Motor Carrier Safety Administration’s SAFER website.

No reason was given as to why the entities were forced to file for bankruptcy protection.

Transport Acquisitions purchased the trucking company and its affiliates in January from the Wright Family Investment Group, which bought the entities in 2008.

In court filings, Transport Acquisitions and ElenaRose Capital are jointly listed as the lead bankruptcy case as both have ownership in the entities. Besides Elmer Buchta Trucking, the petition lists two other entities in its Chapter 11 filing, Buchta Leasing LLC of Princeton, Indiana, and WBF LLC, of Otwell, Indiana. WBF has five power units and four drivers and hauls liquids and gases, according to the FMCSA website.

[EBH]

And another one...will they make it or go the way of Yellow Freight too?

[BigFreakinToad]

BIL is a trucker, business has picked up since yellow went out of business. Damn shame, but this is Biden’s America

[Kenny500c]

No reason given?

How about they could not pay their debts.

[Alberta's Child]

I’m no expert on the trucking industry, but 100 drivers for 230 power units seems like a poor operating model to me.

[Lockbox]

The flurry of investment comes as trucking and transportation providers continue to enjoy a tight capacity market during the pandemic recovery period, allowing them to charge higher fees for hauling freight.

Then the Biden economy hit the freight lines.

https://www.dcvelocity.com/articles/54089-private-equity-investors-show-continued-appetite-for-trucking-fleets

[Paladin2]

BiXiden war on Diesel prices victim.

[Noumenon]

Who is John Galt?

[mabarker1]

It’s called Super-multi-tasking:

1 Driver get 2.3 Trucks to drive.

2 running Trucks and .3 of a Truck for spare parts. If they don’t have the spare part(s) they need then they can check with other Drivers and see if the .3 Truck that they have has the required part(s).🤪

[T.B. Yoits]

I’m no expert on the trucking industry, but 100 drivers for 230 power units seems like a poor operating model to me.

I suspect they have contractors, not employees, driving most of them.

[PAR35]

Buy ‘em, suck them dry, throw away the husk. On to the next one for the vampire investors.