William B. Cassidy | Aug 20, 2010 11:06AM EDT
The recession isn't over for many small trucking companies. While larger competitors report record volumes and stronger bottom lines, many smaller carriers are still struggling to stay in business.
L&H Trucking, a family-owned trucking outfit in Central Pennsylvania, filed for Chapter 11 bankruptcy protection this week, according to the Central Penn Business Journal and other sources.
The company, which offers truckload and intermodal drayage services with more than 165 tractors and 700 trailers, listed $10 million to $50 million in debt and up to $10 million in assets in its filing.
Lawson E. Longstreth and his brother-in-law Glenn Hormel founded the carrier in 1960. Longstreth and his wife Helen purchased Hormel's share in 1975. Their son Glenn Longstreth is president.
Chapter 11 provides protection from creditors for bankrupt companies as they reorganize, and companies usually continue to operate. A call to L&H Thursday found the company still operating.
Glenn Longstreth was not immediately available for comment Thursday.
A smaller truckload carrier in Southern Virginia, FWC, shut down last week, ending a 30-year run. The company, located near Lynchburg, Va., had 75 employees, and about 60 tractors and 210 trailers.
Company officials did not return calls seeking comment. Other trucking companies were already recruiting FWC drivers, according to local news reports.
-- Contact William B. Cassidy at wcassidy@joc.com.
