Makena Express Files for Bankruptcy Citing COVID-19 Pandemic

Florida-based trucking company Makena Trading Corp., doing business as Makena Express, has filed for Chapter 11 bankruptcy protection, citing the COVID-19 pandemic as the primary reason for its decline in revenue. The petition was filed in the U.S. Bankruptcy Court for the Southern District of Florida on Monday, listing Makena Express’ assets and liabilities between $1 million and $10 million. The carrier’s gross revenues from January 1st until the date of the bankruptcy filing were approximately $290,000.

According to the bankruptcy case summary, the company made almost $2.3 million in 2022. Makena Express, which has eight tractors and nine drivers, hauls general freight, including beverages, paper products, and electronics. The Federal Motor Carrier Safety Administration’s SAFER website shows the trucking company’s authority was granted in January 2010.

In its filing, Makena Express listed 49 creditors and claimed that funds would be available for distribution to unsecured creditors once it pays administrative fees. The company owes secured claims to BMO Harris Bank, Ford Motor Credit Co., and De Lage Landen Financial Services. It also owes the US Small Business Administration $150,000 for a business loan.

According to court documents, Makena Express owes nearly $5,600 in back wages to ten 1099 drivers and $3,500 to one W-2 employee. The trucking firm disputes the blanket lien on all its assets held by the Small Business Administration.

Makena Express’ bankruptcy attorney, Mark S. Roher, did not respond to requests for comment. A status hearing on the carrier’s Chapter 11 case is scheduled for May 3rd. The filing is another example of the trucking industry’s ongoing struggles amid the pandemic, which have been compounded by rising fuel and equipment costs.