Laredo-based cross-border trucking company Texas International Enterprises Inc. filed for Chapter 11 bankruptcy protection, with assets and liabilities between $10 million and $50 million. The company estimates it has over 200 creditors and does not expect funds to be available for distribution to unsecured creditors.

Texas International Enterprises, headquartered in Laredo, filed a voluntary petition in the U.S. Bankruptcy Court for the Southern District of Texas. The petition was signed by company president Oscar A. Gomez.

The carrier operates 280 power units, 1,500 trailers, and employs 600 drivers, primarily running interstate general freight. Recent annual mileage reported exceeds 39 million miles in 2024, with a 7.1% driver out-of-service rate and a 22.6% vehicle out-of-service rate.

The Chapter 11 filing does not outline a restructuring plan or whether the company will continue operations. Asset sales may follow the petition process, but details are unclear.

Texas International Enterprises did not immediately respond to a request for comment from FreightWaves.

Read more at Yahoo Finance: Laredo carrier Texas International Enterprises files for Chapter 11