Tennessee-based private equity firm Paladin Capital Inc. has filed for Chapter 11 bankruptcy, impacting truck drivers and logistics workers. The firm listed between $10M-$50M in assets and $100M-$500M in liabilities. Paladin Capital owns over 20 subsidiaries, including Robert Bearden Inc. and Quickway companies, which have also filed for bankruptcy recently.

The bankruptcy was caused by market weakness, rising costs, and pressure from lenders. Paladin defaulted on a credit facility with Truist Bank, leading to equipment repossession threats. The company has not made payments to major equipment lenders since mid-2025. The bankruptcy filing was to prevent widespread equipment repossessions and preserve operations.

Paladin Capital reported employing approximately 912 workers, including 150 at Robert Bearden Inc. and nearly 500 at Quickway entities. The company plans to pursue individual business unit sales instead of selling the entire platform. This bankruptcy adds to a growing list of private equity-backed trucking companies seeking court protection due to the freight downturn.

Read more at Yahoo Finance: Paladin Capital files for Chapter 11 as trucking portfolio unravels