Highway Technologies
| Company type | Private |
|---|---|
| Industry | Construction, Civil engineering |
| Founded | ~1983 |
| Defunct | May 22, 2013 |
| Headquarters | Houston , United States |
Area served | United States (33 cities) |
Number of employees | 825 (before bankruptcy) (2013) |
Highway Technologies, Inc. was a prominent construction firm headquartered in Houston, operating across 33 cities in the United States. In May 2013, the company filed for bankruptcy and terminated 740 out of its 825 employees. Established three decades earlier, the business focused on providing "highway barricades, traffic management equipment, and rental barriers designed for detours and emergency road closures."
The process of liquidation commenced in June 2013 and extended through November of the same year, with several regional branches being sold entirely to new proprietors.
Locations
The corporation maintained a presence in more than 30 American cities, with certain offices employing between 50 and 80 personnel:
Company bankruptcy
On May 17, 2013, the Houston-based enterprise dismissed 740 workers and subsequently filed for bankruptcy on May 22. The bankruptcy documents indicated assets valued between $50 million and $100 million, while liabilities ranged from $100 million to $500 million.
Disruptions
Following the shutdown of operations in multiple locations, event services were interrupted. In Denver, contracted support for traffic barricades at the Colfax Marathon and American Ninja Warrior events was discontinued. The closure of the Missoula branch led to the suspension of fifteen ongoing projects in Montana and resulted in the loss of 180 jobs.
Liquidation
Filing for bankruptcy was a strategic move to safeguard the company's assets on behalf of its creditors. During the bankruptcy court session on May 23, 2013, authorization was granted to sell assets valued under $200,000. Asset disposition occurred both through individual sales and as complete branch operations via private transactions and auctions.
Several local branches of Highway Technologies were transferred entirely to new ownership. Notably, the Denver office reappeared in early August as Colorado Barricade, purchased for an undisclosed amount plus certain liabilities, and promptly rehired approximately 20 of its former staff members out of over 50 within the first week.
Between August and November 2013, more than 60,000 assets were auctioned off, including a two-day Texas auction in late August where around 4,700 items were sold.