Rockwell Transportation Files for Reorganization
by May 11, 2001 11:32 am 226 views
Rockwell Transportation Inc. of Gentry, a private trucking fleet with 64 tractors and 154 trailers, is the latest casualty in the transportation industry.
Rockwell recently filed for Chapter 11 reorganization in Fayetteville’s federal bankruptcy court. The company is owned by Douglas and Judith Rockwell of Gentry.
Rogers attorney Roger Boyer of Boyer Schrantz Rhoads & Teague is representing Rockwell, which is trying to salvage the company by restructuring its financials.
Rockwell has total assets of $4.41 million and total liabilities of $7.44 million. Its personal property at First Arvest Bank of Siloam Springs is valued at $187,000, including accounts receivable, payroll, money market, operating and employ benefits. Other equipment, furnishings, supplies and machines are valued at $90,553.
Its tractors are valued at $2.4 million and its trailers are valued at $1.73 million.
The Internal Revenue Service has a claim of $10,617 against Rockwell.
Creditors holding unsecured claims against Rockwell total $7.08 million, including First National Bank of Siloam Springs at $116,097.
Creditors holding unsecured priority claims total $13,604.
And creditors holding unsecured nonpriority claims totaled 61 pages. Arkansas businesses claiming over $1,000 include: SMC Inc. of Searcy, $15,011; Peterbilt of Springdale, $13,764; Ozark Trucks Sales of Springdale, $13,480; Moore’s Retread & Tire of Springdale, $12,211; Purkey’s Fleet Electric Inc. of Rogers, $4,460; Sonko Inc. of Alma, $2,425; Bell International of Lowell, $2,345; Professional Business Systems Inc. of Rogers, $1,874; Dixieland West Trucking, $1,650; Independent Laboratories LLC of Springdale, $1,295; McWhorter Distribution of Fayetteville, $1,250; Cintas of Springdale, $1,247; Waffer Transport of Cane Hill, $1,109; Perry’s Awards of Fayetteville, $1,061.