TRISM, Inc. the nation's
leading transportation company specializing in the transportation of environmental
and secured materials such as hazardous waste, explosives, military munitions
and radioactive materials, announced on Dec. 18 it filed a petition for voluntary
reorganization of its operations under Chapter 11 with the U.S. Bankruptcy
Court for the Western District of Missouri. The filing affects not only TRISM,
Inc. but also its various subsidiaries.
According to a press
release from the company, several factors led to the Chapter 11 filing, including
high fuel costs for recent periods, difficulty in obtaining qualified drivers,
industry-wide increases in insurance premiums and reduced shipping demand.
The company expects to operate as debtor-in-possession and says it will continue
business as usual. The company also indicated a sale may be pending.