Kal Freight Inc., a leading provider of hauling and logistics solutions in the trucking industry, announced Thursday that it and certain affiliated companies have voluntarily filed for Chapter 11 bankruptcy protection in the Southern District of Texas.
It is unclear as to why the company is filing in Texas rather than California, where the company was founded.
This strategic move aims to restructure the company so it can emerge as a stronger entity, the company said. Kal Freight emphasized in a press release about the filing its commitment to “business as usual” during the process.
Key points:
- Kal Freight seeks to use Chapter 11 to implement operational changes and solidify its financial footing for the future.
- The company intends to maintain full employee wages and payments to vendors and suppliers for goods and services received after the filing date.
- Bradley D. Sharp of Development Specialists Inc. will serve as chief restructuring officer.
- Kal Freight is prioritizing uninterrupted service to customers and trade partners, along with continued employee safety and fleet operations.
- Court documents and updates will be available online at https://cases.stretto.com/KalFreight or by phone at 855-933-3437 (toll-free) or 714-788-8331 (international).
Pachulski Stang Ziehl & Jones represents Kal Freight as legal counsel.
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