A towing company in Jacksonville filed for Chapter 11 bankruptcy on August 23, 2025. The financial hardships and mounting debt are the reasons for the filing. With assets and liabilities falling in the same range, the company was unable to repay debts while maintaining operations.
Highlights
- Troyz Towing & Storage, Inc. filed for Chapter 11 bankruptcy on August 23, 2025.
- The company filed the case in the Florida Middle Bankruptcy Court.
- Facing several ongoing personal injury claims, the company opted to reorganize under court supervision.
Troyz Towing & Storage, Inc. Filed for Chapter 11 Bankruptcy
According to PacerMonitor, Troyz Towing & Storage, Inc. filed for Chapter 11 bankruptcy at the Florida Middle Bankruptcy Court on August 23, 2025, citing financial stress. The Jacksonville-based company reported assets and liabilities between $1 million and $10 million. This led to the Chapter 11 filing under Subchapter V.
Troyz Towing & Storage, Inc. has offered towing and storage services in Jacksonville since 1999. The company has provided 24/7 towing and storage services to Jacksonville residents for over two decades. Over recent years, mounting debt and injury claims compelled the company to seek bankruptcy protection.
Subchapter V of Chapter 11 is designed for small businesses, offering a more streamlined and cost-effective process. Through this, the company can focus on fixing its structure under court supervision. It will try to clear its debts as soon as possible and fix its financial situation.
Several Personal Injury Claims Underway
The existing assets and liabilities of the company are already in an imbalance. Ongoing injury claims could further strain the company’s already fragile finances. The company is preparing for the uncertainties of the future through this filing.
Troyz Towing & Storage, Inc. has several personal injury claims that are underway. If resolved against the company, these claims could significantly increase its liabilities. So, while the bankruptcy filing is important for its current finances, it is also taking protective measures in case the claims are resolved against the company.
The filing also indicates that the company will first pay the administrative costs before proceeding to repay debts. As it begins to get back on track, the other debts will also be repaid as operations continue.
The filing is intended to help the company address its financial challenges and stabilize operations. Meanwhile, it will also be better prepared for the injury claims.
