Massachusetts Logistics Company Folds, Files Chapter 7

This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice.

Former drivers, truck and trailer rental companies and fuel businesses are collectively owed hundreds of thousands of dollars after a Massachusetts logistics company, which specialized in hauling expedited freight, filed Chapter 7.

Interesting Logistics Inc. of Clinton, Massachusetts, filed its petition in the U.S. Bankruptcy Court for the District of Massachusetts on Saturday.

Interesting Logistics' attorney, James Ehrhard, said the company was forced to close its doors recently following the sudden death of Gunnar Bjorkland in June 2021. Bjorkland was the company's main shareholder and manager.

"It was revealed how financially unstable the company truly was after his death and after we got a good look at the books," Ehrhard told FreightWaves on Wednesday. "The company simply could not stay afloat."

In its filing, Interesting Logistics lists assets of up to $50,000 and liabilities of $1 million to $10 million. The company maintains that funds will be available for distribution to unsecured creditors after administrative fees are paid.

The logistics firm, which specialized in same-day and next-day freight delivery, had nine power units and 16 drivers, according to the Federal Motor Carrier Safety Administration's SAFER website. FMCSA granted Interesting Logistics' operating authority in December 2018. The FMCSA site shows that the logistics company's authority is still active. 

In the petition, Interesting Logistics states that it owes 18 employees and drivers an unknown amount for unpaid wages.

The company owes Ryder Transportation Services of Chicago $75,000, Noonan Brothers Petroleum Products of West Bridgewater, Massachusetts, $61,000, and Advantage Truck Leasing of Shrewsbury, Massachusetts, $51,000.

In its petition, the logistics firm reported gross revenue of $651,000 in 2019 but didn't report revenue for 2020 or 2021. 

Five breach-of-contract lawsuits have been filed against Interesting Logistics in Massachusetts and Connecticut.

A meeting with creditors is scheduled for March 23.

Trucking, logistics firms owed millions after oil distributor files Chapter 7
Oakland truckers overwhelmed by looming CARB rule, supply chain obstacles
US fuel company owner pleads guilty to bilking $6.3M from investors

Click for articles by Clarissa Hawes.

Watch the latest episode of Great Quarter, Gals on FW TV.

This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice.
Market News and Data brought to you by Benzinga APIs
Posted In: NewsFreightwavesPartner Content
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!