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Trucking firm Elite Carriers and brokerage affiliate ECI Inc. have filed for Chapter 11 bankruptcy, joining three other entities owned by Kirk Ecklund in seeking protection.
A Merrill, Wisconsin-based trucking company and its affiliated freight brokerage have filed for Chapter 11 bankruptcy, citing significant liabilities and limited liquidity. The filings, submitted May 22 in the U.S. Bankruptcy Court for the Eastern District of Wisconsin, involve Elite Carriers and ECI Inc., both owned by transportation executive Kirk Ecklund.
These two businesses now join three other Ecklund-owned entities—KLE Equipment Leasing, Olson Equipment Leasing, and Wausau Office Space—in seeking bankruptcy protection under Chapter 11.
According to court documents obtained by FreightWaves, both Elite Carriers and ECI Inc. list $1 million to $10 million in liabilities, with a similar range reported for total assets. Each company estimates between one and 49 creditors.
According to SAFER (Safety and Fitness Electronic Records) data from the U.S. Department of Transportation, Elite Carriers currently operates 28 power units and employs 29 drivers. The company transports general freight and paper products under its interstate operating authority.
Over the past two years, Elite Carriers has been involved in four reported crashes, including one incident involving injury.
The filing comes at a time when many small- and mid-sized carriers are facing financial pressure due to prolonged market softness, falling spot rates, and elevated operating costs. Carriers with high debt loads and limited diversification have been particularly vulnerable in the current freight environment.
The ongoing bankruptcies of multiple entities under common ownership suggest broader financial difficulties for the Ecklund portfolio, which spans trucking, equipment leasing, and commercial real estate in Wisconsin.
No further statements have been released by the companies or their legal representatives at this time. The court will oversee restructuring efforts or potential liquidation pending further filings and creditor negotiations.
Source: FreightWaves
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