Update: No layoffs expected after trucking company files for bankruptcy
EVANSVILLE, Ind. (WFIE) - Elmer Buchta Trucking has filed for Chapter 11 bankruptcy protection.
According to their website, they’ve been operation for more than 80 years.
The filing was made earlier this month.
Click here to see it
Federal motor carrier records show the company has 100 drivers and 236 vehicles.
Those records show a physical address in Otwell, in Pike County.
The bankruptcy filing and the website shows an Evansville address.
The company sent a statement Wednesday morning.
They say they will not close, and there will be no layoffs.
You can see the full statement here:
We hope this message finds you well. We wanted to take a moment to address recent reports in the media regarding our company’s financial situation and explain what is going on with our company. While it is true that we have taken steps to restructure our debt through a bankruptcy process, we would like to clarify that this is not a closure but, in fact, a strategic move to embrace a new era of growth and innovation.
In today’s fast-paced business environment, adaptability and foresight are paramount. Our decision to navigate our expansion through bankruptcy is a proactive step towards securing a brighter future for our company. We firmly believe that this process will enable us to leverage unique opportunities within the used truck market and further cement our position as an industry leader.
The used truck market, much like the used car market, is subject to constant fluctuations, and this reality has driven us to explore innovative solutions. By restructuring our debt, we are empowering ourselves to make significant investments in a top-of-the-line newer fleet, thereby strengthening our offerings and staying ahead of industry standards. This strategic move allows us to not only meet the ever-evolving demands of our customers but also position ourselves as leaders in the industry.
We would like to emphasize publicly that there will be no layoffs at our company. In fact, we are looking to increase our staffing by more than 20% in the coming months. This expansion is a testament to our commitment to our dedicated team members, who have been instrumental in our success thus far.
Attached is a copy of our official press release. Please feel free to reach out if you have any questions or would like to discuss this matter further. We are eager to share more details about our plans and the positive impact we anticipate for our customers, partners, and the entire industry.
Thank you for your attention, and we look forward to sharing our journey of growth and success with our team, our community, and our industry.
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