In one of the sector’s biggest bankruptcies of 2024, trucking company Kal Freight has filed for Chapter 11 bankruptcy protection in order to wind down failing affiliates and restructure its primary business.
Bankruptcy court documents show that the company owes approximately $325m to creditors, including Daimler, TBK Bank and Bank of America.
High demand during the pandemic saw Kal Freight invest heavily in trucks and trailers, but once the crisis subsided, the company was overleveraged and unable to meet its financial obligations.
