Hundreds of Carriers Left Unpaid After Major Brokers Shutter

Brokerages like R&R, AGX Freight, and Helix Logistics have closed, leaving carriers owed millions

Published on Feb. 16, 2026

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The recent closures of several large freight brokerages, including the R&R family of companies, AGX Freight, and Helix Logistics, have left hundreds if not thousands of carriers collectively owed tens of millions of dollars. Alleged fraud and financial mismanagement at these firms have left carriers in the lurch, with little recourse to recover the money they are owed.

Why it matters

The collapse of these major brokerages highlights the risks and vulnerabilities that carriers face in the freight industry, where they can be left unpaid if a broker suddenly goes out of business. This raises concerns about the financial stability and transparency of the brokerage sector, as well as the need for stronger protections and recourse options for carriers.

The details

The R&R family of companies, which included several brokerage operations, shuttered in January 2026, leaving behind an estimated $65 million in unpaid debts, according to a lawsuit filed by the company's lender, The Huntington National Bank. The lawsuit alleges that R&R continued to book loads and operate despite facing insolvency. Separately, Helix Logistics, a brokerage that handled freight for metals company Cleveland Cliffs, also recently collapsed, leaving carriers and even its own staff unpaid.

  • R&R family of companies, including R&R Express Logistics, RFX LLC, GT Worldwide Logistics, and others, shuttered in January 2026.
  • AGX Freight was also named as a borrower in the lawsuit filed by The Huntington National Bank against the R&R companies.
  • Helix Logistics, a brokerage that handled freight for Cleveland Cliffs, recently collapsed, leaving carriers and employees unpaid.

The players

The Huntington National Bank

The lender that filed a lawsuit against the R&R family of companies, alleging fraud and financial mismanagement.

Richard Francis

The owner of the R&R family of companies, who the lawsuit alleges tried to fraudulently transfer the equity in a property worth $5 million to himself and his wife.

Mike Williams

The CEO of AGX Freight, another brokerage named in the lawsuit filed by The Huntington National Bank.

Brian Woodring

An owner-operator based in Indiana who was left unpaid by the collapse of Helix Logistics and is now pursuing the shipper, Cleveland Cliffs, for payment.

Cleveland Cliffs

A metals company whose freight was handled by the now-collapsed Helix Logistics brokerage.

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What they’re saying

“Throughout 2025, this decline accelerated rapidly.”

— The Huntington National Bank, Lender (Lawsuit)

“The collective net operating losses of R&R and the other Borrowers in 2025 eventually totaled a staggering $25.9 million.”

— The Huntington National Bank, Lender (Lawsuit)

“In the midst of this financial crisis, and while negotiations among Plaintiff, R&R and the other Borrowers were ongoing, on December 29, 2025, R. Francis (the principal of R&R and the other Borrowers) executed a fraudulent scheme designed to transfer the equity in the Property away from R&R to R. Francis and his wife.”

— The Huntington National Bank, Lender (Lawsuit)

What’s next

The judge in the lawsuit filed by The Huntington National Bank against the R&R family of companies and other brokerages will decide on the bank's claims of fraudulent asset transfers in the coming weeks.

The takeaway

The collapse of these major freight brokerages highlights the financial vulnerabilities and lack of protections for carriers in the industry, raising concerns about the need for greater transparency, stability, and recourse options to ensure carriers get paid for the work they perform.