Sparhawk Trucking confirms total liquidation and closure following a failed search for a buyer, impacting 74 staff members and 38 independent contractors amid a broader freight recession.
Sparhawk Trucking is liquidating and shutting down operations after failing to find a buyer, resulting in layoffs of 74 workers.
Wisconsin-based Sparhawk Trucking is shutting down operations and liquidating assets after failing to secure a buyer during its Chapter 11 bankruptcy proceedings. The closure will result in the termination of 74 employees, including 42 drivers, with layoffs expected to conclude by November.
The company failed to find a buyer during its Chapter 11 bankruptcy reorganization process and faced significant financial pressure, including $10.1 million in debt to WoodTrust Bank.