JHT Holdings Files for Bankruptcy

Trucking company JHT Holdings filed for bankruptcy Tuesday, citing reduced revenue in the past year as truck sales declined, Bloomberg reported.

The company said its day-to-day operations will not be affected.

JHT’s bankruptcy filing is a pre-packaged agreement with lenders that is intended to improve its balance sheet.

Kenosha, Wis.-based JHT, which has 1,360 drivers, transports medium- and heavy-duty trucks.

Its revenue fell from $550 million in 2006 to $328 million last year, the Milwaukee Journal-Sentinel said.

JHT, founded in 1933 as Kenosha Auto Transport, takes Class 5-8 tractors from factories to dealers.

The company said it has as much as $500 million each in assets and debts and owes money to as many as 5,000 creditors, Bloomberg said.

JHT Holdings is ranked No. 44 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.