Reported 9 months ago
Tony's Express, a Fontana-based less-than-truckload carrier in California, has filed for Chapter 11 bankruptcy protection after abruptly closing its operations and leaving around 200 employees without jobs. The company's president and sole shareholder cited market challenges and high fuel costs in California as reasons for the closure. Tony's Express plans to reorganize under Chapter 11, with its top creditors being in California and funds available for distribution to unsecured creditors. The company's owner intends to restart the business as a truck trailer rental operation.
Source: YAHOO