STG Logistics has opened a new cross-dock warehouse facility in Memphis, expanding its domestic footprint. The facility features 150 dock doors and a large secured yard designed for high-velocity freight movement. The expansion resulted from a partnership with a large marketplace retailer seeking enhanced domestic freight support. The facility is expected to create hundreds of jobs over the next year, including warehouse associates, drivers, technicians and supervisory staff, plus indirect employment through local suppliers and contractors. STG Logistics, with over 40 years of experience in domestic logistics, provides containerised logistics services including intermodal transportation, drayage, warehousing and transloading. The company is backed by Wind Point Partners, Duration Capital Partners and Oaktree Capital Management.

STG Logistics survives key bankruptcy hurdle to remain in business. STG Logistics has a major transloading business and owns about 15,000 domestic intermodal containers. Photo credit: Ari Ashe / Journal of Commerce. Surface Rail News Intermodal providers STG Logistics has received $40 million in new funding and another reserve fund of $25 million after a deal was reached between lenders ahead of a key hearing before a New Jersey bankruptcy court. The deal agreed to on Tuesday results in a temporary truce between two lenders who sued STG Logistics in a New York court and a group of lenders who provided the rescue funds when the bankruptcy was filed on Jan. 12. STG operates a thriving transloading and drayage business and is also the fourth-largest US domestic intermodal provider with 15,000 privately-owned containers. The agreement allows Axos... The page is only available to subscribers and 30-day free trial users. Please log in below to view the rest of this page. If you do not have an active account, please subscribe or begin a free trial today.

STG Logistics declares bankruptcy during 'great Freight Recession' STG Logistics, a prominent trucking company based in Dublin, Ohio, has declared Chapter 11 bankruptcy. This development occurs during a period termed the "Great Freight Recession," characterized by a significant decline in demand for shipping services despite high capacity levels. Details of bankruptcy filing. On Monday, STG Logistics filed for bankruptcy protection in the U.S. Bankruptcy Court for the District of New Jersey. This decision impacts the company, which ranks as the fourth-largest asset-based intermodal marketing organization in the country. Financial restructuring. As part of its restructuring plan, STG plans to eliminate 91 percent of its nearly $1 billion debt. The new plan will provide the company with an infusion of $114 million in capital. This capital is vital for maintaining business operations and ensuring proper compensation for employees and vendors. Expected timeline for recovery. The company aims to exit bankruptcy court protection within five months. CEO Geoff Anderman expressed optimism about the restructuring process. He highlighted its importance for STG's long-term growth and success. Commitment to operations. * STG Logistics will continue normal operations during the bankruptcy proceedings. * Operations will focus on delivering high-quality service while adhering to core values, including safety and integrity. Further details on the bankruptcy proceedings will be made available as the situation develops. STG Logistics aims to leverage this restructuring to enhance its position in a challenging freight market.