Almost a year after filing for bankruptcy, a truck stop giant has sold its trucking insurance subsidiary.
According to the Salt Lake Tribune, Flying J recently agreed to sell Flying J Insurance Services to The Buckner Co., a Salt Lake City-based insurance brokerage firm.
“We have been looking at ways of building up our business, and they were entertaining the idea of selling their insurance business,” Buckner Spokeswoman Teresa Elias told the Tribune recently.
On Dec. 22, 2008, the Flying J announced it was reorganizing and filing for Chapter 11 bankruptcy.
Within a month, the company announced it was replacing then-CEO J. Phillip Adams with Crystal Call Maggelet, daughter of the late Flying J founder, Jay Call. Flying J was recently one of America’s 20 largest privately held companies with reported sales of $18 billion in 2008.
The Flying J frustrated many truckers in 2007 by not allowing certain credit cards to be used at truck diesel pumps, though they were allowed in-store and at pumps for recreational vehicles.
In July, the Flying J announced it was merging its truck stops with Pilot Travel Centers, a longtime rival.
– By Charlie Morasch, staff writer