Star Transport PA, a Miami Gardens trucking company, recently filed for Chapter 11 bankruptcy, citing $27 million in debt amidst rising operational costs and economic pressures in the trucking industry. The company, along with affiliates such as Finance Solutions LLC and US Express Line LLC, submitted their petitions to a Miami bankruptcy court on November 1, seeking to restructure debt while keeping operations running.
Represented by attorney Joseph A. Pack, Star Transport aims to stabilize its finances and continue its services, which span 48 states with a fleet of over 300 trucks and nearly as many trailers. Established in 2016 by founder Victor Khramov, the company grew from humble beginnings and now generates substantial annual revenue. Despite the financial strain, it employs 11 full-time staff and contracts around 280 to 330 drivers weekly.
Khramov attributes Star Transport’s financial troubles to factors like rising fuel prices, increasing insurance costs, and an industry-wide driver shortage—all compounded by high inflation rates impacting the U.S. economy. In an affidavit, he described 2024 as an exceptionally challenging year for the trucking sector, with many companies facing similar financial distress.