U.S. Trucking divisions bankrupt
CHARLESTON, S.C. (Dec. 1, 2000) — U.S. Trucking said today that its four subsidiaries have filed for bankruptcy protection.
UST Logistics, Mencor, Prostar, and Gulf Northern Transport filed Chapter 11 petitions in a Florida court and will liquidate their assets.
The publicly traded holding company, U.S. Trucking Inc., is not involved in the bankruptcy proceedings.
U.S. Trucking officials said the company will rebuild with an “agency concept,” which will require no long-term debt or equipment purchases, and is currently negotiating with several small carriers to establish agent programs.
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