Multiple trucking businesses recently began processes to relieve their debts, highlighting continued market challenges even as some promising signals emerge.
Carriers with a range of operations made financial resets, though Chapter 11 bankruptcies gave the possibility for reorganizing businesses. Notably, Mountain Valley Express closed down its operations, VP of Sales Oscar Tapia said in a LinkedIn post.
Bankruptcies, along with shutdowns and revoked operating authority, are the market's way of correcting overcapacity from recent years, according to Truck Dispatch Experts, an owner-operator dispatching service.
In 2025, Chapter 11 bankruptcies reached a decade-long high, and that higher level of activity is expected to continue, PwC noted in a February report.
“While traditional bankruptcies may increase, many will likely turn to faster, less costly out-of-court financial restructurings,” the accounting firm added.
That’s what’s happening with Mountain Valley Express. The California-headquartered carrier initiated an assignment for the benefit of creditors, a liquidation avenue and an alternative to the Chapter 7 bankruptcy process that attorneys characterize as more expedient.
The business had 277 power units and 229 drivers as of mid-April, according to a federal database. Jonathan Wernick, a managing director with GlassRatner representing the business in the transition, told Trucking Dive that those assets are being auctioned through Liquid Asset Partners.
Multiple lawsuits had listed Mountain Valley Express as a defendant in 2026. Notably, Valley Pacific Petroleum Services, Kamenko Express and Logan Trucking alleged breach of contract in complaints, seeking hundreds of thousands of dollars in damages.
Other sizable, recent financial setbacks included:
- Redefined Transportation of California filed for a Chapter 11 bankruptcy in June, listing nearly $1.1 million in liabilities. The bulk of its more than $391,000 in assets consisted of 31 Ventura chassis valued at $5,000 each, and 12 Freightliner Cascadia tractors valued at $12,000 each.
- P R C Transport of New Jersey filed for Chapter 11 bankruptcy in June, listing over $826,000 in liabilities and over $131,000 in assets.
- AshFoxx Transport of New Jersey filed for Chapter 7 bankruptcy in July, listing nearly $464,000 in liabilities and $1,124 in assets. The company had 14 power units and 11 drivers as of mid-August, according to a federal database.
