Trailer Bridge Inc. announced this morning that it has filed for Chapter 11 bankruptcy reorganization. The Jacksonville-based marine and truck freight company had been trying to restructure $82.5 million in senior notes that were due.
In a news release, Trailer Bridge said it “does not expect any significant or unusual reductions in overhead, and will continue its regular vessel deployment and sailing schedule” as it goes through the Chapter 11 process.
The petition, which was filed in the U.S. Bankruptcy Court Middle District of Florida, shows total assets of $102.7 million and debts of $118.1 million.
Trailer Bridge is a marine freight transportation company that transports cargo between the continental U.S. and Puerto Rico and the Dominican Republic as well as within the U.S.