Florida court records show lenders urged R&R Family of Companies to wind down operations weeks before its collapse, even as carriers across the U.S. continued hauling freight and invoices went unpaid. A lawsuit filed Jan. 23 in the Circuit Court for the Twentieth Judicial Circuit in Collier County, Florida, by The Huntington National Bank, alleges that R&R and affiliated borrowers were insolvent, deeply in default and lacking sufficient liquidity while continuing to operate through late 2025. The case offers a possible explanation of what was happening behind the scenes while carriers, vendors and factoring companies report unpaid invoices tied to R&R Express, RFX LLC, GT Logistics and related entities. Lenders say R&R was losing millions as payables mounted According to the complaint, Huntington and co-lender S&T Bank extended multiple credit facilities to R&R and affiliated borrowers in March 2022 under a Second Amended and Restated Credit and Security Agreement. The facilities included an $85 million revolving credit line and a $3.7 million term loan, secured by substantially all borrower assets. By 2025, however, the lenders allege R&R’s financial condition had sharply deteriorated amid the prolonged freight recession. Court records state the borrowers reported approximately $25.9 million in net operating losses for 2025, with actual losses potentially higher due to accounting practices that may have understated expenses. By late 2025, R&R and its affiliates had allegedly accumulated roughly $65 million in unpaid trade payables. The complaint states that by mid-December 2025, Huntington recommended an orderly wind-down, citing a lack of liquidity…
