New truck hauler files for bankruptcy

JHT’s Chief Executive James Welch says the company isn’t being forced into Chapter 11 filings and instead it’s making the move as a financial strategy.

The Associated Press

6/25/2008

MILWAUKEE — The trucking firm once owned by millionaire Dennis Troha is filing for bankruptcy.

JHT Holdings Inc. made the filing this week in bankruptcy court in Delaware.

The company says it plans to turn over ownership control to its lenders.

Troha and his family were majority owners until 2005.

The former trucking tycoon was sentenced in March to six months of probation for steering illegal campaign donations to the Democratic party and President Bush.

JHT’s Chief Executive James Welch says the company isn’t being forced into Chapter 11 filings and instead it’s making the move as a financial strategy.

The Kenosha-based firm has 1,360 drivers and is a big player in transporting medium and heavy-duty trucks in North America.