RBX Inc. Of Missouri Files For Chapter 11

And the hits keep coming. With only $50k in assets, the drivers may be out of a paycheck.

 

Dang.....they better sell off some of those newer trucks they have in the fleet. Maybe they can sell off to one of their next door neighbors, Transland or Christenson

 

Right!!!! They gave new meaning to the phrase "upside down."

 

How will RBX reorganize? Seems the company should just close the doors and lock the gates.

 

The employees should be the first to be paid. Companies should have to have an escrow account with enough to cover all outstanding payroll.

 

The more money a company owes the more likely they will secure financing to keep going because that’s the only hope for the creditors to get paid.

 

here’s an interview with the CEO and he explained what’s going on… In a nutshell they’ve had a ton of issues with paccar And the trucks continuing to break down and such costing the more than $1 million increase in maintenance costs in one year so they’re doing a bankruptcy reorganization and most likely dumping Paccar and kenworth… the trucks that were repo or trucks they were given back to Kenworth anyway because of maintenance issues that Kenworth just wasn’t fixing