Iconic trucking company that hauled beverages for many files for bankruptcy after 41 years citing up to $50m debt

RBX Inc., a major trucking company based in Strafford, Missouri, has filed for Chapter 11 bankruptcy, impacting the jobs of its 255 drivers. The company, which has been operating for over 40 years, transports freight across the Midwest and Southeast using a fleet of 265 trucks.

While the reasons for the bankruptcy were not disclosed, Chapter 11 allows businesses to reorganize and continue operations. According to Freight Waves, up to 199 creditors are affected by the filing, although the total amount owed remains unclear. The company’s assets are listed at up to $50,000, with liabilities ranging between $10 million and $50 million. However, unsecured creditors will not receive any funds from the bankruptcy process.

RBX Inc. operates a fleet of more than 200 power units and 53-foot dry van trailers. The company was established in 1983 and is currently led by CEO Jim Keltner. The bankruptcy filing occurred on December 13 in the U.S. Bankruptcy Court for the Western District of Missouri.

A Trend of Trucking Industry Bankruptcies

The RBX filing is part of a broader pattern of high-profile bankruptcies in the trucking industry. In August 2023, Yellow, a long-established freight company, filed for Chapter 11 with $2.5 billion in debt and around 30,000 employees affected. Despite its history dating back to 1924, Yellow’s CEO Darren Hawkins announced the company’s closure, citing profound disappointment in closing after nearly 100 years of operation.

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Additionally, Elmer Buchta Trucking LLC, based in Indiana, filed for Chapter 11 in September 2023. The company had been in business for over 80 years and was the largest bulk hauler in Indiana. Its assets ranged between $1 million and $10 million, with liabilities between $10 million and $50 million.

Retail Industry Faces Similar Struggles

The trucking sector is not alone in experiencing significant closures and bankruptcies. The retail industry has also seen a string of high-profile collapses in recent years. In April 2023, Bed Bath & Beyond filed for Chapter 11 and closed all 360 of its stores. The company was later acquired by Overstock, which relaunched the Bed Bath & Beyond website in August 2023.

Discount chain Tuesday Morning, which filed for bankruptcy in February 2023, also closed its 200 stores. This was its second bankruptcy filing, after an initial attempt to stay afloat during the coronavirus pandemic in May 2020, which included shuttering several locations.

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Both the trucking and retail industries are grappling with the challenges of inflation, supply chain issues, and changing consumer behaviors, which continue to affect businesses across various sectors.

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