Trism sells off assets

Feb. 11, 2002
Trism Inc. announced Friday that it has sold substantially all of its assets and certain contracts and leases to Bed Rock Inc. and Tri-State Properties LLC. Trism, which has been reorganizing under Chapter 11 bankruptcy protection since December 18 of last year, said it is now in the process of "winding up its business and disposing of its remaining assets." The government munitions, commercial explosives
Trism Inc. announced Friday that it has sold substantially all of its assets and certain contracts and leases to Bed Rock Inc. and Tri-State Properties LLC. Trism, which has been reorganizing under Chapter 11 bankruptcy protection since December 18 of last year, said it is now in the process of "winding up its business and disposing of its remaining assets."

The government munitions, commercial explosives and oversized equipment carrier reported in November that it overstated its collateral assets by an estimated $4.4 million. Earlier in 2001, Kennesaw, GA-based Trism closed it Specialized and Heavy Haul divisions and entered into discussions with its equipment lenders to reschedule certain payments and to return excess tractors.

The carrier had reduced its fleet to some 400 tractors and 850 trailers, down from 1,300 tractors and 4,000 trailers at the start of 2001.

About the Author

Sean Kilcarr | Editor in Chief

Sean Kilcarr is a former longtime FleetOwner senior editor who wrote for the publication from 2000 to 2018. He served as editor-in-chief from 2017 to 2018.

 

Voice your opinion!

To join the conversation, and become an exclusive member of FleetOwner, create an account today!

Sponsored Recommendations

Boost truck leasing profits with telematics insights! Reduce maintenance costs, improve uptime, and strengthen customer relationships. Learn how data drives success.
This free guide outlines simple steps for hiring and onboarding commercial drivers while ensuring that you meet Regulation Part 391 and maintain fully compliant driver qualification...
Ready to boost fleet efficiency by up to 50%? Learn how AI-powered dispatch and next-gen tech are transforming TMS workflows, improving driver planning, and streamlining operations...
Gain a strategic edge in today’s evolving fleet landscape. Join us to explore how fuel cards are helping fleet managers cut costs, enhance control, and prepare for an electrified...