A California-based trucking and logistics company, which contracts with the U.S. Postal Service to haul mail, recently filed for Chapter 11 bankruptcy.
Family-owned Matheson Postal Services Inc. of Sacramento, filed its petition in the U.S. Bankruptcy Court for the Eastern District of California on May 5. The company’s terminal handling services division, Matheson Flight Extenders, also filed for bankruptcy protection on the same day.
As of publication, Matheson’s attorney, Gregory Nuti, had not responded to FreightWaves’ request seeking comment.
The filing lists both its assets and liabilities as between $10 million and $50 million. The 60-year-old trucking and logistics company states that it has up to 5,000 creditors and maintains that funds will be available for distribution to unsecured creditors once it pays administrative fees.