US trailer manufacturer, Beall, has commenced reorganisation proceedings in order to strengthen the business for future growth.
Based in Portland, Oregon, the 107-year-old company has filed for Chapter 11 bankruptcy protection. Under this version of US bankruptcy, the company gets a break from its creditors, allowing time to restructure with the aim of becoming profitable again.
Beall is now seeking new partnerships to recapitalise the business and enable it to respond to high levels of demand. Reportedly, Beall’s backlog of orders is near record levels, but capital constraints are making it difficult to complete those orders on time.
“This reorganisation process is an opportunity for Beall to strengthen our financial health and secure our long term growth without significant disruptions to our customers, vendors and employees,” said Beall CEO, James Beall. “I am grateful for their unwavering loyalty and support and look forward to many more years of providing the highest quality service.”
Established in 1905, Beall has five factories and 11 sales branches across the United States. The company’s products include aluminium and stainless steel tankers, bottom dumps, end dumps, as well as dump bodies.