This isn’t market churn. It’s systemic failure.

Freight Company Closures Are Surging

Over the past two years, insolvencies across transport and freight have jumped more than 150%. ASIC data shows that the transport, postal, and warehousing sector saw 495 insolvencies in 2023–24, up from 196 in 2021–22.

Victoria has been hit hard.

• Don Watson Transport, a refrigerated freight mainstay, ceased operations in June 2025 after 77 years.

• Austrans Container Service, a container logistics operator, collapsed in 2024 owing $116 million.

• Scott’s Refrigerated Logistics, once Australia’s largest cold chain carrier, entered liquidation in 2023.

These aren’t isolated failures. They form a pattern.

Why Freight Companies Are Failing in Victoria

1. Rising Operating Costs

Fuel, wages, insurance, and compliance costs are all climbing. With labour shortages and tighter underwriting, many operators can no longer quote profitably.

2. Fleet Value Decline

Used truck values are falling fast. Equipment that once held strong resale value is now depreciating faster than loan terms allow, trapping operators in negative equity.

3. Regulatory Complexity

Victoria’s freight companies are buried in compliance, from Chain of Responsibility laws to permit zones,…