January 23, 2021

Bouchard Transportation Co., Inc. To Restructure Through Chapter 11 Proceeding

MELVILLE, N.Y., Sept. 28, 2020 /PRNewswire/ —¬†Bouchard Transportation Co., Inc. (privately held) (“Bouchard” or the “Company”), the nation’s largest independently-owned ocean-going petroleum barge company, today announced that it and certain of its subsidiaries have filed voluntary petitions to restructure under chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”).¬†

Bouchard intends to fund the chapter 11 process with debtor-in-possession financing, which will provide the Company with the necessary liquidity to maintain normal operations while it undertakes certain key operational restructuring initiatives, including to ensure the fleet is in full compliance with all operating regulations, and otherwise emerge as a stronger enterprise positioned for long-term success. As part of its operational restructuring, the Company will fill several key open executive management positions. The Company intends to pay employees, suppliers, and other trade vendors in full

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