US Logistics Solutions Announces Chapter 7 Bankruptcy Filing

HOUSTON, June 24, 2024 /PRNewswire/ -- US Logistics Solutions, Inc. (USLS) has announced that, despite the best efforts by its dedicated workforce, the company was notified by its lender that it will no longer receive the necessary funding to continue operations. As a result, USLS will liquidate immediately and filed for Chapter 7 bankruptcy on Friday, June 21.

Over the past several months, USLS has implemented numerous strategic initiatives aimed at stabilizing and revitalizing the company. The leadership team and core operations workforce, comprised of experienced professionals, worked tirelessly to navigate the challenging market conditions and improve the company's financial health. These efforts included optimizing operational efficiencies, enhancing customer service, and exploring innovative solutions to meet the evolving demands of the logistics industry.

USLS's partnerships with customers have always been paramount. The company's ability to deliver an incredible customer experience started with investing in and empowering its people. Recognizing that the company is as good as the individuals who make it up, USLS has always placed its employees at the center of everything it does. The customer-focused, customized solution, outside-of-the-box team has consistently strived to provide clear and proactive communication to clients as they navigated the many variables of their supply chains. Above all else, USLS aimed to be the most dependable pool distribution provider in the nation.

The decision to file for bankruptcy was not taken lightly. The leadership team explored all possible alternatives to avoid this outcome, including seeking additional investment and strategic partnerships. However, the abrupt cessation of funding left the company with no other recourse.

USLS has always been committed to delivering exceptional logistics solutions to its customers and maintaining strong relationships with its partners. The company deeply regrets the impact this development will have on its employees, customers, and stakeholders. USLS'  leadership team is committed to ensuring that the bankruptcy process is handled with transparency and integrity. Indeed, it intends to cooperate with the trustee and the bankruptcy court throughout this process.

The Chapter 7 bankruptcy filing will enable an orderly liquidation of the company's assets, ensuring that creditors are treated fairly and equitably.

About US Logistics Solutions

USLS has been a trusted provider of comprehensive logistics and supply chain solutions for over 30 years. Known for its commitment to innovation, customer service, and operational excellence, USLS has served a diverse range of industries, helping businesses streamline their logistics operations and achieve their goals.

SOURCE US Logistics Solutions, Inc.