Midwestern trucking company Elmer Buchta has filed for chapter 11 after almost 100 years in business.
Elmer Buchta LLC and three other associated companies have filed for chapter 11 bankruptcy this month. The companies are owned by Transport Acquisitions LLC and operate in southern Indiana, reported the US Sun.
Elmer Buchta is based out of Evansville, Indiana and has around 200 trucks. The company has been in operation for more than 80 years and lists its assets between $1 million and $10 million. Its liabilities have been listed between $10 million to $50 million.
A total of 40 workers will be laid off if the company undergoes a full liquidation.