Major commercial truck company files for Chapter 11 bankruptcy

The commercialized motortruck manufacture has faced economical distress implicit the past twelvemonth that has resulted successful definite companies shutting down operations and going retired of business, and successful immoderate cases, filing for bankruptcy protection.

Companies person blamed precocious amounts of indebtedness obligations, rising costs from inflation, and precocious involvement rates for their fiscal distress.

Commercial motortruck companies that experienced terrible difficulties and ceased operating see Nikola Corp. and Bollinger Motors.

Nikola Corp., a pioneer successful the improvement of artillery electrical and hydrogen substance compartment electrical semi-trucks, filed for Chapter 11 bankruptcy connected Feb. 19, 2025, and liquidated its assets.

Nikola’s callback of each of its BEV trucks astatine the opening of the 3rd 4th of 2023 to regenerate defective artillery packs incurred important expenses and $44 cardinal successful losses, which led to its bankruptcy filing.

Commercial electrical motortruck shaper Bollinger Motors besides unopen down operations six months aft emerging from receivership.

Bollinger Motors, which was founded successful 2015, released its B1 SUV prototype for consumers successful 2017 earlier aboriginal launching its commercialized electrical motortruck manufacturing successful Oak Park, Mich., with its Bollinger B4 successful September 2024.

The commercialized electrical truckmaker’s fiscal issues led to it missing 2 payroll periods successful November 2025 and ceasing operations connected Nov. 21. The company's website was nary longer operational astatine past check.

And now, commercialized trucks and dense instrumentality trader Tonka International Corporation filed for Chapter 11 bankruptcy for the 2nd clip successful implicit 5 years to reorganize its business, arsenic a glut successful the used-machinery marketplace affected the company's sales.

The institution has nary narration to the Tonka artifact brand, which has been owned by artifact institution Basic Fun since 2019. Basic Fun, coincidentally, filed for Chapter 11 extortion successful June 2024, Inforuptcy reported.

Tonka International archetypal filed for Chapter 11 extortion connected March 9, 2020, astatine the opening of the Covid pandemic, according to PacerMonitor.

The Plano, Texas-based debtor filed its Subchapter V petition successful the U.S. Bankruptcy Court for the Northern District of Texas connected Jan. 15, listing up to $50,000 successful assets and $100,000 to $500,000 successful liabilities, according to RK Consultants.

Tonka International is simply a licensed and bonded wholesale dealer, specializing successful the wholesale organisation of commercialized trucks, trailers, boats, cranes, excavators, and dense equipment, serving the mining, energy, and operation sectors, chiefly successful the North Texas Region.