Flying J files for Chapter 11
NEW YORK — Flying J, a North America-wide truckstop operator, as well as a privately held oil producer and refiner, filed for Chapter 11 bankruptcy protection today.
The company, which said it will keep its truckstop facilities open during the process, cited weak oil prices and turmoil in the US credit markets for the move.
"With this sudden and unanticipated inability to meet our liquidity needs, we regret that we had no other choice than a Chapter 11 filing to enable us to stabilize our financial base," J. Phillip Adams, its president and chief executive, said in a statement.
Flying J has hundreds of facilities across North America, including seven full-service travel plazas in Canada, plus dozens of additional fuel stops and cardlock locations.
Have your say
This is a moderated forum. Comments will no longer be published unless they are accompanied by a first and last name and a verifiable email address. (Today's Trucking will not publish or share the email address.) Profane language and content deemed to be libelous, racist, or threatening in nature will not be published under any circumstances.