Serna’s Trucking LLC, a Texas-based transportation provider, has filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the Western District of Texas.
The San Marcos trucking company filed for bankruptcy on Tuesday, seeking to restructure its finances while continuing operations during a court-supervised restructuring process.
Court filings show the company’s debts are below $3.4 million, qualifying the case as a small business Chapter 11 reorganization under federal bankruptcy law.
The carrier listed total assets of about $544,595, including trucks, equipment, cash and accounts receivable.
Serna Trucking did not respond to a request for comment from FreightViews.
The filing shows that the company has a mix of old tractors, dump trucks and trailers used to transport construction materials and aggregates. The bulk of its assets—about $450,580—consist of machinery, equipment and vehicles.
The company reported approximately $7,999 in cash, $43,767 in accounts receivable, and $12,619 in inventory, according to the bankruptcy filing.
According to the company’s website, Serna’s Trucking was founded in 2006 by Claudia Serna and provides transportation services in Texas.
Federal Motor Carrier Safety Administration records show the carrier operates out of San Marcos, Texas, with one driver and one electrical unit registered under its USDOT number, while company materials previously indicated a large fleet operating in the state.
The bankruptcy schedule lists about 49 creditors and shows many secured claims tied to equipment and financing arrangements.
Among the secured creditors listed in the filing:
The total secured claims listed in the filing are more than $194,000, supported primarily by trucks, trailers and accounts receivable.
A Chapter 11 filing allows a company to continue operating while it works to settle its debts and negotiate with creditors under court supervision.
The petition was signed by company manager Claudia E. Sarna and filed by Austin-based attorney Frank B. Lyon.
Serna Trucking is the smallest carrier to seek bankruptcy protection amid ongoing financial pressures in the trucking sector, which has seen higher operating costs and uneven freight demand over the past two years.
Texas carrier Serna Trucking files for Chapter 11 bankruptcy appeared first on FreightWaves.
