The commercial truck industry is facing economic distress, leading to shutdowns and bankruptcies. Nikola Corp. and Bollinger Motors are among those affected, blaming debt, inflation, and high interest rates. Both companies filed for bankruptcy, with Nikola liquidating assets after recalling defective trucks. Tonka International Corporation also filed for Chapter 11 bankruptcy to reorganize its business due to the used-machinery market glut affecting sales. The company specializes in wholesale distribution of commercial trucks, trailers, boats, and heavy equipment. The trucking industry has been in a sustained downturn since mid-2022, not fully rebounding due to the supply-chain crisis. Tonka will address legacy liabilities from its previous bankruptcy restructuring.

Read more at Yahoo Finance: Major commercial truck company files for Chapter 11 bankruptcy