Latest news with #DavisExpress
Yahoo
3 days ago
- Business
- Yahoo
Illinois carrier files for Chapter 11 bankruptcy
This story was originally published on Trucking Dive. To receive daily news and insights, subscribe to our free daily Trucking Dive newsletter. AZA Transportation, a Chicagoland-area trucking company, filed for Chapter 11 bankruptcy protection with the U.S. Bankruptcy Court for the Northern District of Illinois last month, according to court filings. The carrier, which reported having 70 power units as of October, will have the opportunity to reorganize its finances while paying down its debts in order to stay in business through Chapter 11 of the U.S. bankruptcy code. AZA Transportation, owned by President Azamat Sadyrbaev, has $826,458 in liabilities and $403,432 in personal property assets. Among AZA Transportation's 20 largest creditors is Keystone Equipment Finance, a Connecticut-based firm that offers financing for small- to mid-sized transportation companies to purchase new and used equipment. The firm is owed $82,905 in unsecured claims for loans used to purchase one Freightliner Cascadia and two Volvo trucks. Additionally, Transportation Alliance Bank has two unsecured claims against the carrier totaling $67,055 for another Freightliner Cascadia as well as two trailers. AZA Transportation also owes $24,500 to the U.S. Small Business Administration for an Economic Injury Disaster Loan. While that loan is just a piece of the company's overall debts, it's worth noting that the SBA ended its hardship accommodation plan for EIDL borrowers earlier this year. AZA Transportation is the latest in a string of trucking companies conceding to the ongoing pressures of a contracted freight market and tariff challenges. In April, Davis Express shut down operations after 44 years, and earlier this year, vehicle carrier Jack Cooper called it quits after losing automaker contracts. 'Tariffs on America's trade partners have the potential to inhibit the recovery from a freight recession that has been acutely felt by America's small-business truckers, but it is too early to make predictions on specific downstream economic effects,' an Owner-Operator Independent Drivers Association spokesperson told Trucking Dive in April. Recommended Reading Davis Express to shut down, cites challenging freight market Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
01-05-2025
- Business
- Yahoo
‘Heartbreaking': One of Bradford County's largest employers shuts down
Action News Jax is looking into the impacts as one local town is losing one of its biggest employers. Davis Express, a long-time trucking company, is shutting down and laying off its staff. Jimmy Davis, the company's owner and president, took to social media to announce the closure. In a Facebook post, he said the company has been unprofitable since early 2023 and does not see any signs of improvement in 2025. [DOWNLOAD: Free Action News Jax app for alerts as news breaks] A notice to the state said Davis Express has 163 employees, and the company said they will all be paid through mid-June. The company is one of the ten biggest employers in all of Bradford County, and in Starke, many people are connected to the trucking company. 'It's definitely heartbreaking,' Jose Cabrera, who works at Laredo Mexican Restaurant, said. [SIGN UP: Action News Jax Daily Headlines Newsletter] 'It was sad,' Bonnie Ripley, who lives in Starke, said. 'My husband started working for Davis Trucking, so we moved here. He really enjoyed the company, and he felt like they had strong family values.' Lake Ray, the president of the First Coast Manufacturers Association, said the impacts of this closure could be significant. 'When we see companies like this shut down, it is a little bit of a concern because it does mean that there will be a reshuffle of companies in terms of getting the goods and being able to manufacture,' Ray said. Click here to download the free Action News Jax news and weather apps, click here to download the Action News Jax Now app for your smart TV and click here to stream Action News Jax live.
Yahoo
16-04-2025
- Business
- Yahoo
Family-owned Florida trucking company closing
A family-owned and -operated Florida trucking company has announced it will close after 44 years in business. Davis Express, located in Starke, Florida, will stop making deliveries after April 23. In an announcement posted Wednesday to the company's Facebook page, owner James 'Jimmy' Davis said the company would return all trucks and trailers to its Starke terminal by the end of the month. The post stated that all employees will continue to be paid as scheduled every Friday and will receive benefits through the pay period ending June 15. Davis wrote that the business would continue employing mechanics and operate the shop as equipment is taken out of service and sold. According to SAFER data, Davis Express is an interstate carrier with 160 power units employing 140 drivers. The business carried general freight, fresh produce, meat, refrigerated food and beverages. As required by federal law for companies experiencing mass layoffs or permanent closures, Davis Express filed a Florida WARN Notice on Wednesday. In the notice, Davis cited 'unfavorable business conditions' as the reason for the closure. A total of 146 employees will be laid off on June 15, and the remaining 17 are expected to be laid off around Aug. 31, according to the notice. These totals are broken down into 117 truck drivers, 35 office employees and 11 mechanics. In his Facebook post, Davis said the past few years have been very challenging for refrigerated trucking due to rising costs and stagnating or falling rates. 'We have been unprofitable since early 2023 and do not see any signs of improvement in 2025,' he wrote in the post. 'In addition, plaintiff's attorneys have increasingly targeted the trucking industry. Every trip a driver takes is Russian Roulette for everything I worked for my entire life. After 50 years in the trucking industry, I am ready to retire and do not wish to wait any longer for things to improve or to try to find a buyer for the company.' Although the company has been unprofitable lately, Davis said it is not bankrupt and does not have any 'cash flow problems.' He said there is enough money to pay out all employees, vendors and creditors timely. 'As we enter the final chapter of Davis Express, I want to thank everyone that has made the company successful over the years,' he concluded. FreightWaves reached out to Davis Express for comment. The post Family-owned Florida trucking company closing appeared first on FreightWaves. Sign in to access your portfolio
Yahoo
27-02-2025
- Business
- Yahoo
Johnson remembered as pioneering Black businessman
ANDERSON — A local business owner wanted to make sure Jesse Johnson, a leader in the Black business community, was remembered during Black History Month. Jeffrey Davis, owner of Davis Express, said it was time to recognize someone who did something special for the community. 'There are so many unsung local businessmen that have not been recognized for their accomplishments,' Davis said. Johnson is believed to have been the first Black real estate agent who built and sold homes in the community. He founded Johnson Real Estate and Insurance, using the profits to purchase an office building at the intersection of 13th Street and Madison Avenue. From 1968 to 1976, Johnson built more than 35 brick homes that were sold to Black families in desirable areas of Anderson. 'I bought my first home from Jesse Johnson in 1973,' said Ollie H. Dixon, the 4th District member of the Anderson City Council. 'I knew him, his wife and son through my parents.' Dixon said Johnson was well-known in the community for his real estate business, and he also did tax returns for people. 'He was most well-known for the real estate business,' he said. The Rev. Anthony Harris said his parents knew Johnson well. 'He was the first Black realtor who built homes to be sold to the community,' Harris said. 'They were beautiful homes.' Harris said Johnson served the community for most of his life and at one time was owner of the Elbow Room. Johnson served on the Indiana Civil Rights Commission from 1962 to 1966 and traveled around the state to inform Blacks of laws they were unaware of that had passed. He was a lifetime member of the NAACP, served on the boards of Ivy Tech Community College, Community Hospital, and the United Way of Madison County as well as the Anderson Plan Commission. Johnson was also a president of the Anderson Black Business and Professional Association in the 1970s. Johnson died in 2024 at the age of 98. He was a veteran of World War II and in 2021 took part in an honor flight to Washington, D.C.
