Financial Issues in the Trucking Industry
Unpredictable fuel prices have taken a toll on virtually every aspect of the American economy. Perhaps one of the most widely-affected industries is the over-the-road trucking industry, which has been faced with increased operational costs due to growing fuel prices, as well as decreased revenue associated with a lower demand for goods that are typically shipped from manufacturer to merchant. These issues, coupled with any number of other possible problems, often result in a cash crunch that renders a business unable to satisfy all of its financial obligations.
DelCotto Law Group PLLC has experience in assisting both single-unit operators and businesses with multi-unit fleets through this financial turmoil, in and out of bankruptcy.
Regardless of which option best fits your case, DLG has experience with analyzing and addressing key issues that are common to the trucking industry. We can assist you with negotiating with critical vendors, including fuel suppliers and repair and maintenance facilities, as well as assessing potential motor carrier tax issues. We can also work with you to streamline your business through the sale of unprofitable units and/or real estate, or the surrender of those units and/or properties to a secured creditor or lessor in exchange for a reduction or elimination of indebtedness.
