Longtime Indiana trucking business seeks bankruptcy protection
OTWELL, Ind. (WISH) — A southern Indiana trucking and logistics business in operation for more than 80 years has filed for bankruptcy protection.
Evansville-based Elmer Buchta Trucking is seeking Chapter 11 protection. The filing in U.S. District Court in Indianapolis says the company has $5.5 million in assets, and $26.3 million in liabilities.
Federal motor carrier records show the company that began in Otwell has 100 drivers and 236 vehicles. Louis Capolino of Apollo, Florida, is listed as president and manager.
Industry news provider FreightWaves reports the company, founded in 1938, offers bulk, dry van and pneumatic trucking services, according to the Federal Motor Carrier Safety Administration data. The bankruptcy filing came less than nine months after private-equity firm Transport Acquisitions acquired Elmer Buchta Trucking from the Wright Family Investment Group, which bought the business in 2008.
Elmer Buchta Trucking’s website says it’s the largest bulk transporter and one of the largest transporters serving the Midcontinent Independent System Operator electrical grid.
Otwell is an unincorporated community located in Pike County, and about halfway between Bloomington and Evansville.