In 2025, several major Illinois construction, transportation and logistics companies filed for bankruptcy protection. Most of these businesses sought bankruptcy protection from U.S. courts to restructure their debt and finances while continuing operations.
Top Illinois Firms That Filed for Bankruptcy in 2025
From leading transportation companies to construction firms, all were affected by the economic crisis in 2025. The list below includes Illinois-based companies that filed for bankruptcy in 2025.
1. Luther Oaks, Inc.
Luther Oaks, Inc. filed for bankruptcy protection on February 4, 2025, in the U.S. Bankruptcy Court. As per the PacerMonitor report, the case is listed under case no. 1:25-bk-01706 and is represented by David A Agay of McDonald Hopkins LLC.
The Chapter 11 bankruptcy petition will help the company to reorganize its finances and debts with court supervision, while it continues to operate.
The company has listed estimated assets between $10,000,001 to $50 million and estimated liabilities between $100,000,001 to $500 million.
When: February 4, 2025
2. AZA Transportation
A Chicago-based trucking company, AZA Transportation, has filed for bankruptcy protection in the US Illinois Northern Chicago Bankruptcy Court. On May 14, Joel A Schechter, ESQ of Joel Schechter, filed a Chapter 11 bankruptcy petition on behalf of AZA Transportation.
According to PacerMonitor, the company has listed estimated assets and liabilities between $100,001 to $500,000 and $500,001 to $1 million, respectively. The next hearing for the case is scheduled for February 23, 2026.
When: May 14, 2025
3. Nortia Logistics
According to PacerMonitor, Nortia Logistics Inc. has filed for voluntary Chapter 11 bankruptcy protection. The case was filed in the Northern Chicago Bankruptcy Court and allotted the case no. 1:25-bk-08699. Represented by David Freydin, the company has listed estimated assets and liabilities between $1,000,001 to $10 million.
The filing submitted by the attorney includes 37 pages and a filing fee of $1,738, which was paid and received by the court. In the petition, the company has listed 1-49 creditors.
When: June 9, 2025
4. Dolche Truckload Corp
A trucking and logistics company, Dolce Truckload Corp, submitted a Chapter 11 bankruptcy petition in the U.S. Bankruptcy Court for the Northern District of Illinois. The company is represented by David Freydin of Law Office David Freydin Ltd., with the case assigned number 1:25-bk-09093. The proceedings are being overseen by Judge Deborah L. Thorne.
According to the filing, the company has estimated assets between $1,000,001 to $10 million and estimated liabilities between $1,000,001 to $10 million.
The Illinois-based trucking company sought court protection due to mounting debt pressures.
When: June 15, 2025
5. Harold’s Chicken of Homewood
Harold’s Chicken of Homewood had filed for Chapter 11 bankruptcy on July 27 to restructure its finances,. The case no. 1:25-bk-11428 was allotted to De’nsite Inc., the operator of Harold’s Chicken of Homewood.
In the report, the company has listed estimated assets up to $500,000 and estimated liabilities between $500,001 to $1 million. The case is being represented by Saulius Modestas of
Modestas Law Offices, P.C. The decade-old company has noted 1-49 creditors in the petition.
With this petition filed, the fast-food operator has turned to the U.S. Bankruptcy Court to manage its financial obligations.
When: July 27, 2025
6. Team Champions
Team Champions, an Illinois-based transportation company, filed a Chapter 11 petition on August 8. The filing with case no. 1:25-bk-12121 was submitted in the U.S. Bankruptcy Court for the Northern District of Illinois.
In the court, Team Champions was represented by David Freydin of David Freydin Ltd. According to reports, the company has estimated assets between $1,000,001 to $10 million and estimated liabilities between $1,000,001 to $10 million. The company has listed 1-49 creditors in its filing.
The company has recently submitted several important documents, including monthly operating reports and bank statements. The company is planning to reorganize its finances and provide a statement explaining how it will repay the creditors.
When: August 8, 2025
7. VP Direct
VP Direct, a leading Trucking Company, has voluntarily applied for a Chapter 11 bankruptcy petition on November 6. The case is registered under the case no. 1:25-bk-17208, in the U.S. Bankruptcy Court for the Northern District of Illinois.
With the bankruptcy filing, VP Direct sought court-supervised restructuring while continuing its operations.
The trucking company has estimated assets ranging from $100,001 to $500,000, while the estimated liabilities lie between 1,000,001 to $10 million.
Attorney David Freydin from Law Offices of David Freydin Ltd is representing the company. As per the filing details, the court has given a deadline till February 4, 2026, to the company to share its Chapter 11 Subchapter V reorganization plan.
When: November 6, 2025
8. Crown Cars & Limousines
An Illinois-based luxurious transportation company, Crown Cars & Limousines, is seeking bankruptcy protection due to a large gap between its assets and liabilities. The company has filed for Chapter 11 bankruptcy petition in the U.S. Bankruptcy Court for the Northern District of Illinois.
The filing shows a significant gap between the company’s assets and liabilities and lists between 1 and 49 creditors. The case was filed on November 20 and was allotted the case no. 1:25-bk-17979.
The estimated assets of the company lie between $100,001 to $500,001, and the estimated liabilities are between $1 million and $10 million.
Judge Deborah L. Thorne will oversee the case, and the company is represented by Attorney William Factor. The company will follow a reorganization plan in order to handle its debts under court supervision.
When: November 20, 2025
9. North American Builders Supply Inc
On December 3, North American Builder Supply, a leading supplier of building materials, filed for bankruptcy. The company has filed for a voluntary Chapter 11 bankruptcy petition in the U.S. Bankruptcy Court for the Northern District of Illinois.
The company, filed under case number 1:25-bk-18572, is represented by attorney Joel Schechter of the Law Offices of Joel A. Schechter.
According to reports, the company has estimated assets between $500,001 – $1 million and estimated liabilities between $1,000,001 – $10 million.
When: December 3, 2025
10. Peoria Charter Coach Company
An 80-year-old transportation and charter service company, Peoria Charter Coach Company, filed for bankruptcy protection on December 11. The company is seeking Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Central District of Illinois.
The company is being represented by Attorney Jeana K. Reinbold from Sgro, Hanrahan, Durr, Rabin & Reinbold LLP. According to reports, the company is assigned case number 25-80900.
The company reportedly has estimated assets between $1,000,001 to $10 million and estimated liabilities between $1,000,001 to $10 million.
Due to debt claims from a shareholder and a bank, along with nearly 49 creditors, the company has opted for voluntary bankruptcy protection.
When: December 11, 2025
The rise in cases among bankruptcy filings highlights the ongoing instability of businesses in Illinois. All of these companies chose to file for bankruptcy under Chapter 1, to continue operations while restructuring their debts.
