TLSS
Industry:
Transportation

DESCRIPTION

Transportation and Logistics Systems (TLSS) is a shell company with no active operations. TLSS ceased all revenue-generating activity in early 2024, when its remaining subsidiaries either filed for Chapter 7 bankruptcy or shut down due to lack of working capital. Prior to this, TLSS operated as a holding company for a collection of asset-based logistics and transportation businesses in the northeastern U.S., serving the New York tri-state area and New England. Its subsidiaries provided ecommerce fulfillment, last-mile delivery, two-person home delivery, mid-mile and long-haul trucking, warehousing, and LTL trucking across New England. TLSS was originally incorporated as an oil and gas exploration company in 2008, pivoted to transportation in 2017, and built a logistics business heavily reliant on Amazon. When Amazon terminated those contracts by mid-2021, TLSS lost the bulk of its revenue. TLSS attempted to rebuild through acquisitions between 2021 and 2023, assembling a regional logistics operation, but this business also collapsed. As of its most recent filing, TLSS has one employee serving as both CEO and CFO, is insolvent, and is relying on external financing just to complete its SEC filings. TLSS is evaluating a possible restructuring of existing debts and a potential entry into new lines of business through acquisition, but has made no definitive moves in this direction.

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