FL Trucking Hit Hard - Three Trucking Companies File For Bankruptcy & Another Lays Off In July 2024

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Astute Floridians may already know that 2023 was a very difficult year for the trucking industry and 2024 is proving to be difficult for trucking in Florida. Specifically, according to Costa Systems, in 2023, 80,000 trucking companies shut down operations. And in Florida in July of 2024, three trucking companies filed for bankruptcy and one laid off dozens.

AB Brothers: This trucking company is based in South Florida and has over 25,000 truckload carriers in its network. Their goal is to help businesses deliver their freight on time and damage-free. The company filed for Chapter 11 bankruptcy on July 20, 2024, with $593,000 in assets and $1.05 million in liabilities.

A1 Transport Network: This freight company also operates out of South Florida. It transports general freight and dry bulk and has over 60 drivers. The company reportedly earned gross revenues of over $3.7 million from Jan. 1 until its bankruptcy filing date of July 20, 2024.

AOG Trucking: This company has been in business for five decades and is owned by veterans. It specializes in the aerospace and aviation industries. It filed for bankruptcy on July 17, 2024, and listed $1 million to $10 million in assets and liabilities in its petition.

Layoffs At Averitt Express: This company, which began 50 years ago with only two people, is one of the nation's leading freight transportation and supply chain management providers.

In a Warn letter from late June 2024, the company disclosed that because a Costco distribution center had ended its contract with the company, it will be eliminating around 55 positions on September 1, 2024.

The author is not affiliated with any of the trucking or transportation companies mentioned above or any other trucking companies.