An Illinois motor carrier that employs several dozen truck drivers has filed for bankruptcy protection after the company was sued for failure to pay their bills.
On June 7, Bensenville, Illinois-based carrier Park Transportation Inc. filed for Chapter 11 bankruptcy in the Northern District Court of Illinois.
According to the FMCSA’s SAFER website, Park Transportation operates 98 power units and employs 83 drivers.
The bankruptcy filings list Park Transportation’s assets at $0 to $50,000 and their liabilities at $1 million to $10 million.
Court records say that the bankruptcy comes after Park Transportation was sued by Royal Savings Bank and DCT Cargo LLC for failure to meet financial obligations.
Over the past 24 months, Park Transportation Inc. trucks have undergone a total of 70 inspections resulting in 25 out of service orders. This 35.7% out of service rate is significantly higher than the national average of 20.72%.
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