Reported about 7 hours ago
A family-owned trucking company in California, Miranda Logistics Enterprise Inc., along with its affiliate Grit & Gravel Inc., have filed for Chapter 11 bankruptcy due to significant cashflow problems after defaulting on a factoring agreement. The companies reported liabilities between $1 million and $10 million and cited rapid growth and startup costs as contributors to their financial distress. A court date is set as they seek to address their creditors and explore potential resolutions.
Source: YAHOO