Balkan Express and its affiliate, Balkan Logistics, have filed for Chapter 11 bankruptcy protection, citing debts of more than $25 million.
The companies, which seek to reorganize, filed for Chapter 11 protection on Wednesday in the U.S. Bankruptcy Court for the Northern District of Texas.
Fort Worth-based Balkan Express is a dry van trucking company that has been operating since 2007. It has 166 drivers and 159 power units, according to the Federal Motor Carrier Safety Administration.
Balkan Express offers drop-and-hook, dedicated, and just-in-time transportation services across Texas and the southwestern U.S.
In the petition, Balkan Express and Balkan Logistics list assets of between $10 million and $50 million. The petition states they have up to 49 creditors and that funds will be available to unsecured creditors once they pay administrative fees.
In March, M&T Capital sued Balkan Express, alleging that the carrier owed more than $4.2 million in unpaid loans, interest and attorney fees relating to the lawsuit.
Officials for Balkan Express and Balkan Logistics did not return a request for comment from FreightWaves.
