1. Bankruptcies in the Trucking Industry
WHY ARE TRUCKING COMPANIES GOING BANKRUPT?
Since 2022, the trucking industry has been dealing with a freight recession following the pandemic-driven boom in 2020-2021. This prolonged market downturn has forced many carriers out of business, including notable exits from R&R Express, Montgomery Transport LLC, and STG Logistics. While attrition in the trucking industry is normal, losing larger fleets like Montgomery, which had approximately 637 power units across their branded companies in 2025, impacts flatbed capacity. Until the market rebounds, we may continue to see more trucking company bankruptcies due to increased operating costs, low spot market rates, and depleted cashflows.
What is PGT Trucking’s solution?
PGT remains in a strong financial position, backed by 45 years of successful business experience in a tumultuous industry. Led by Pat Gallagher, PGT has strategically navigated through various market shifts, often improving our circumstances even during periods of economic downturns. We are confident in our ability to provide flatbed transportation solutions that are favorable for both PGT and our customers, backed by our long-term personal relationships.
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