AGX Freight suspends operations indefinitely due to dispute involving lender

A Jacksonville, Florida-headquartered logistics company has shuttered operations until further notice due to “an ongoing dispute between a related company and a senior secured lender.”

AGX Freight announced last week that it would indefinitely suspend operations as of January 31, 2026, because a lender “has restricted the Company’s access to working capital, preventing the Company from utilizing available funds to support day-to-day operations.”

The company says that it “has actively pursued a solution to escape the impact of the dispute, including interim access to funds which would have allowed the Company to operate until the dispute reached a resolution, secure new financing, and restructure the Company’s ownership, which was well underway prior to today’s announcement.”

“AGX Freight s not in default, and we categorically disagree with the lender’s position as it relates to the Company,” said Mike Williams, President of AGX Freight. “We have sufficient working capital on our balance sheet to fund operations, pay employees, agents, and carriers, and continue delivering value for our customers. The issue is not liquidity — it is accessibility.”

“In freight logistics, reliability and continuity are everything,” said Williams. “Our team has built an exceptional reputation for operational excellence, integrity, and customer service. Being forced to halt operations — not because of business performance, but because of a financial conflict we dispute — is incredibly frustrating and deeply unfair to our employees, agents, carriers, and customers.”

AGX Freight maintains that the company was financially sound coming into 2026 even though the past two years have been difficult for trucking “due to overcapacity and lack of economic growth leading to persistent lower rates and margin compression, exacerbated by unprecedented and rampant freight fraud.”

AGX Freight has been in operation since 2016, providing full truckload, flatbed, heavy haul, LTL, intermodal, and expedited transportation across North America.