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Texas-based U.S. Logistics Solutions, owned by Ten Oaks Group, abruptly ceased operations, leaving employees jobless and freight abandoned across the country.
Corrections: Ten Oaks issued a statement, and this article has been updated to reflect those clarifications.
Read the full statement at the end of this story.
In a shocking move, private equity firm Ten Oaks Group abruptly shut down its subsidiary, U.S. Logistics Solutions (USLS), on Thursday night, leaving thousands of workers high and dry.
"Due to the abrupt decision by our private ownership group to close our doors at the same time business was surging, I am completely devastated and heartbroken." - Eric Culberson, former USLS President
"The timing of this closure did not give me the chance to thank my team for their commitment and support." - Eric Culberson
We are deeply disappointed by the lender’s sudden decision to cease further funding for US Logistics Solutions, which left the company no time to provide advanced notice to employees or properly wind-down operations. Despite the unwavering commitment of the company’s leadership team and workforce to navigate challenging market conditions and improve financial health, the ongoing turbulence in the trucking and logistics industry proved insurmountable. We profoundly regret the impact of this abrupt decision on the company’s employees, customers, and vendors. We also sincerely appreciate the hard work and dedication of each of the company’s 870 employees and 62 independent contract drivers.
Source: FreightWaves
Bankruptcies in trucking are accelerating as tariffs, heavy debt, and post-pandemic overinvestment plague the industry. Some are warning recovery may be delayed until mid-2026.
Bankruptcy filings and closures are mounting in trucking as tight lending and “zombie carriers” keep rates low, delaying the market correction and prolonging a multi-year freight recession.
California’s TGS Transportation has permanently closed after 40 years in business, citing challenging freight market conditions that have recently forced other family‑run carriers to shut down.
Chicago Suburban Express and MacMillan-Piper are shutting down
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