Cloverleaf Transportation, a privately held regional carrier, has filed for Chapter 11 bankruptcy protection from its creditors, the Associated Press reported.
The Chester, N.Y.-based company, which serves the Northeast, has assets of about $1.4 million and debts of about $7.3 million, according to papers filed Tuesday, Aug. 16 in U.S. Bankruptcy Court in Poughkeepsie, N.Y.
Cloverleaf, which employs 100 people, expects to stay in business and to break even over the next 30 days, the papers said.
The filing was brought on when its largest customer, Target Corp., terminated its contract with the company, the papers said.
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