Bill Davis Trucking files for bankruptcy
A trucking business owned by NASCAR team owner Bill Davis has filed for Chapter 11 bankruptcy in Arkansas.
Bill Davis Trucking, which is a separate company from Bill Davis Racing, filed the court papers, which allow a company to stay in business while the court supervises a plan for the company to repay its debts either partially or in full.
"This has been a very unfortunate chain of events and Gail and I certainly hate that it ever had to happen," Bill Davis said in a statement released by the race team. "Bill Davis Trucking and Bill Davis Racing are two completely separate entities, and the race team will in no way be affected by today's announcement."
Davis' race teams field two full-time Nextel Cup entries and three full-time Craftsman Truck Series entries.
The statement from the team said the bankruptcy filing "was necessitated by an injury accident and an ensuing lawsuit against the [trucking] company."
A complete list of the truck business' assets and liabilities was not part of the filing, which was done last week. Assets and liabilities for Bill Davis Trucking range between $1 million and $100 million for the company, according to the filing.
