Transit Group emerges from bankruptcy
Dec 16, 2002 12:00 PM
Transit Group Inc, Orlando FL, has emerged from Chapter 11 bankruptcy following approval of its reorganization by the US bankruptcy court for the Middle District of Florida. While not the largest trucking company ever to file for bankruptcy protection, Transit Group is the largest ever to emerge as an operating company. Reorganization took less than one year. Transit Group now has three business units: KAT-R&M Transportation of Chesterton IN and Gretna NE, a truckload carrier of refrigerated commodities; Priority Transportation of Rochester NY and Memphis TN, a dry van truckload carrier; and Land Transportation, Atlanta GA, an agent-based business.
