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Bankruptcy filings expected in freight industries

Posted on Tuesday, October 4th, 2011 at 2:00 pm    

It has been said that with the downturn in the freight industry, four U.S. shipping companies may file for bankruptcy in the next year.

There have recently been talks of consolidating the companies and legal professionals have stated that with the current freight rates, the commodities and transport industry may need to do this.

It was also stated that within the next 12 months, it would not be surprising if four, possibly five, companies file for chapter 11 bankruptcy. Many agree that without  some type of joint venture, consolidation or some way to cut down costs, it will be difficult to remain in business.

If you or a loved one are considering filing for bankruptcy with your business, you need experienced representation on your side. Contact the Joliet bankruptcy attorneys of the Law Office of Stuart B. Handelman by calling 815-722-2201 today.