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Collapsed R&R chief discloses $12.7 million in personal assets in Chapter 11 filing

Richard Francis lists an $8.5 million Florida waterfront home among $12.7 million in assets against about $7.5 million in reported liabilities; several claims are disputed, and the filing does not account for what the company itself owes workers and carriers.

By CDLWire · Published October 16, 2026

Summarized from FreightWaves.

Semi trucks parked at a shuttered trucking terminal with a bankruptcy courthouse in the background

The chief executive of the collapsed R&R Family of Companies has disclosed nearly $12.7 million in personal assets in federal bankruptcy schedules filed Wednesday, according to FreightWaves on Oct. 15.

Richard Francis filed the 47-page schedules in U.S. Bankruptcy Court for the Middle District of Florida, nearly three weeks after seeking personal Chapter 11 protection on Sept. 22. The filing lists $12,670,208.96 in assets and $7,461,606.75 in liabilities, and FreightWaves noted that several disputed or unliquidated claims carry no dollar amount, so the liability total may not reflect his full potential exposure.

The largest asset is a Marco Island, Florida, waterfront residence valued at $8.5 million, plus two Pennsylvania properties valued at $1.4 million and $200,000. The Florida home is also at the center of litigation by Huntington National Bank, which has alleged a December 2025 transfer of the property was intended to put it beyond creditors' reach — allegations that have not been established by a court. Francis lists a $5.3 million secured claim associated with Huntington while disputing personal liability for that mortgage.

The schedules say Francis now works in a commissioned sales position at Giant Logistics LLC, reporting about $37,078 a month in gross wages and commissions, with combined household monthly income of $42,751.54 against monthly expenses of $65,283.45. Other listed assets include a boat valued at $900,000.

R&R's operations shut down in January, leaving hundreds of employees without jobs and carriers pursuing unpaid invoices. FreightWaves stressed that the personal filing does not provide a complete accounting of the company's own debts or obligations, and that no R&R operating company is automatically in bankruptcy because of Francis's personal case. A status conference is set for Oct. 21 and a meeting of creditors for Oct. 27.