🚚New Chapter 11 Bankruptcy - Wynne Transportation Holdings LLC🚚

Company succumbs to vicious subcontractor conflict and delayed contracts.

On January 10, 2025, TX-based Wynne Transportation Holdings LLC (d/b/a U.S. Crew Change) and six affiliates (the “debtors”) filed chapter 11 bankruptcy cases in the District of Delaware (Judge Owens). The debtors, in their own mumbo jumbo, provide “turnkey ground transportation solutions for LNG, clean energy and petrochemical, mining, and traditional oil and gas projects” which is really just a convoluted way of saying they operate coach buses. It just also turns out that they use their fleet — comprised of 315 vehicles (178 owned, 137 leased) — to ferry workers to big remote construction job sites with a focus on the energy sector.* Thus the “crew” in “U.S. Crew Change.”

According to the efficient 19-page first day declaration of the debtors’ Chief Restructuring Officer, Benjamin Jones of Ankura Consulting, the owned vehicles have an estimated sale value of ~$22.3mm. Also according to Mr. Jones, the debtors historically posted strong operating results: from ‘21-’23, the debtors averaged $78mm of revenue and $17mm of EBITDA per year. Not bad for a shuttlebus business!