A significant trucking company based in Strafford, Missouri, has filed for Chapter 11 bankruptcy, placing 255 driver jobs in jeopardy. RBX Inc., a family-owned business with over 40 years of history, operated 265 trucks transporting freight across the Midwest and Southeast.
Bankruptcy Filing Details
RBX Inc. filed for Chapter 11 bankruptcy on December 13 in the U.S. Bankruptcy Court for the Western District of Missouri. While the company did not disclose the reasons behind the filing, the bankruptcy allows them to reorganize their business in an effort to stay operational, per the United States Courts website.
The filing impacts up to 199 creditors, but details regarding the owed amounts remain unclear. The company reported assets of up to $50,000 and liabilities ranging from $10 million to $50 million. Freight Waves reports that no funds will be available for unsecured creditors.
Company Overview
RBX Inc., established in 1983, is led by CEO Jim Keltner. The company manages a fleet of over 200 power units and 53-foot dry van trailers, servicing clients across its regional network.
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Industry-Wide Challenges
RBX’s bankruptcy follows a troubling trend of high-profile trucking company closures.
- Yellow Corporation: In August 2023, Yellow, one of the largest freight companies in the U.S., filed for Chapter 11 bankruptcy with $2.5 billion in debt, leaving 30,000 employees jobless.
- Elmer Buchta Trucking LLC: A month later, this Indiana-based bulk hauler also filed for bankruptcy. It had more than 300 units and liabilities between $10 million and $50 million.
Broader Bankruptcy Trends
The trucking industry isn’t the only sector hit hard in recent years. Retail has also faced significant casualties:
- Bed Bath & Beyond: The home goods retailer filed for bankruptcy in April 2023, resulting in the closure of all 360 stores. Overstock later acquired the brand and relaunched its online platform in August.
- Tuesday Morning: The discount chain shut down its remaining 200 stores in February 2023 after a second bankruptcy filing, following a failed restructuring attempt during the pandemic in 2020.
The closure of RBX Inc. underscores the ongoing financial struggles in both trucking and retail industries, driven by rising costs, market pressures, and evolving consumer habits.
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