A transportation and charter service company, which has been in business for over 80 years, has filed for bankruptcy. The decision is driven by huge debts claimed by a shareholder and a bank, among nearly 49 creditors.
With the Chapter 11 filing, the company says it aims to restructure its debts while continuing normal operations.
Peoria Charter Coach Company Seeks Bankruptcy Protection
Peoria Charter Coach Company filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Central District of Illinois on Dec. 11, 2025, according to PACER records. The Peoria, Illinois company submitted the voluntary petition on December 11.
Attorney Jeana K. Reinbold from Sgro, Hanrahan, Durr, Rabin & Reinbold LLP is representing Peoria Charter Coach Company in the court.
Company Background
Peoria Charter Coach Company, which was originally founded by the Winkler family, is now owned by James Wang. Wang began working for the company in 2011 as a part-time driver and later rose to management.
Based on his performance and experience, Wang was appointed the CEO of the Winkler family-led company in April 2024. Months after this, in October 2024, he purchased the third-generation, family-owned-and-operated business.
Founded in December 1941, the transportation and charter service company currently operates through locations in Peoria, Urbana, and Chicago. 400,000 passengers across the Midwest and beyond depend on its fleet of 64 vehicles. Manufactured by MCI, Van Hool, and Prevost, each of these vehicles by Peoria Charter Coach Company comes in different sizes and models.
The company employs more than 100 drivers for school trips, airport transfers, events and other charters.
The vehicles by Peoria Charter Coach Company have a seating capacity of 38 and 56 people. Each of these includes reclining seats and 110V outlets per seat along with overhead storage for belongings of passengers.
Peoria Charter Coach Company received the UMA Environmental Leadership Award 2023. This was based on its focus on environmental protection through initiatives like using clean diesel technology.
Case Related Details
Peoria Charter Coach Company is moving forward with the proceedings as a small business debtor under 11 U.S.C. § 101(51D). James Wang signed the Subchapter V Chapter 11 petition before it was filed yesterday.
Counsel Jeana K. Reinbold filed a Corporate Ownership Statement on Dec. 11, 2025.
Below is a quick summary of the proceedings:
- Filing Date: December 11, 2025
- Court and Jurisdiction: U.S. Bankruptcy Court from the Central District of Illinois
- Type of Filing: Active, Voluntary Petition, Subchapter V
- Chapter: 11
- Case Number: 25-80900
- Estimated Assets: $1,000,001 to $10 million
- Estimated Liabilities: $1,000,001 to $10 million
- Reason for Filing: Readjustment of debts requires court supervision
Peoria Charter Coach Company currently owes nearly 49 creditors in total, the official filing says.
The Illinois company’s largest unsecured creditor is Dayspring Bank with a total claim of about $3.1 million. Out of this amount, the bank has secured a small portion with buses and equipment. The transportation and charter company still owes it nearly $2 million in unsecured debt.
One of Peoria Charter Coach Company’s shareholders, William Winkler, has made an unsecured claim of $720,000. This amount is related to a loan for the purchase of company shares.
The filing indicates that unsecured creditors may receive recoveries under a court-approved restructuring plan.
Any recoveries for unsecured creditors will depend on the outcome of a court-approved restructuring plan.
