Balkan Express will look to reorganize its finances after recently filing for Chapter 11 bankruptcy protection with the U.S. Bankruptcy Court for the Northern District of Texas, according to court filings.
The Fort Worth, Texas-based transportation company’s estimated liabilities range between $10 million and $50 million, the filing states, including over $750,000 in unsecured claims.
Balkan Express — which has 150 power units and 250 workers — offers truckload and LTL long-haul services across 48 states, according to its website.
Balkan Express’ bankruptcy filing comes less than two months after M&T Capital and Leasing filed a complaint against the carrier, claiming that the company, affiliate Balkan Logistics and owner Zlatan Karic owe $4.3 million in unpaid loans plus interest.
Balkan Express has at least $10 million in assets, according to the bankruptcy filing, and the companies and owner have denied allegations that they defaulted on their loans.
Among its largest named creditors, unsecured claims include $159,000 in business expenses; nearly $416,000 in vendor service fees; and $180,000 in fuel charges.
