Transit Group emerges from bankrupcy protection
ORLANDO, Fla. (Dec. 18, 2002) — Transit Group last week emerged from bankruptcy proceedings following approval of the company’s reorganization plan by a U.S. bankruptcy court in Florida.
Transit is the largest trucking company in the United States to survive a bankruptcy, according to the Court. Transit filed for protection from creditors under Chapter 11 of the U. S. Bankruptcy Code on Dec. 28, 2001.
Headquartered in Orlando, Fla., Transit operates 1,400 power units in dry van and temperature-controlled truckload service across three subsidiaries. At the time it declared bankruptcy, the company operated 19 truckload businesses.
Have your say
This is a moderated forum. Comments will no longer be published unless they are accompanied by a first and last name and a verifiable email address. (Today's Trucking will not publish or share the email address.) Profane language and content deemed to be libelous, racist, or threatening in nature will not be published under any circumstances.