Cannon Express Inc. plans to file for bankruptcy protection, the Springdale, AR, company said in a filing with the SEC.

Cannon said it would file for bankruptcy protection “at the earliest practicable date,” either under Chapter 11 or another portion of the U.S. Bankruptcy code.

On Nov. 17, the company voluntarily delisted itself from the American Stock Exchange, Arkansas Business.com reported. Its shares had not traded on the exchange since Oct. 14, when the company failed to meet listing standards. It was last traded at $1.36 per share.

In 2002, Cannon’s revenue fell from $85.8 million in 2001 to $79.08 million for the fiscal year ending June 30, 2002.