R&R trucking CEO reports $12.7M in assets after company collapse

Richard “Rich” Francis, CEO of the collapsed R&R Family of Companies, has disclosed nearly $12. 7 million in personal assets in a court filing on Wednesday. Francis’ assets include an $8. 5 million Florida waterfront residence, while reporting approximately $7. 5 million in liabilities in newly filed federal bankruptcy documents.

The bankruptcy documents also disclose that Francis is employed by Giant Logistics LLC in a commissioned sales position making over $37,000 a month in gross wages.

The disclosures offer the most detailed accounting yet of Francis’ personal finances following the January shutdown of the Pittsburgh-based trucking and logistics group, which left hundreds of employees without jobs and prompted lawsuits from lenders, carriers and other creditors. Francis filed his schedules and Statement of Financial Affairs in U. S.

Bankruptcy Court for the Middle District of Florida, nearly three weeks after seeking personal Chapter 11 protection on Sept. 22. The 47-page filing lists $12,670,208. 96 in assets and $7,461,606. 75 in liabilities.

However, the schedules also identify several disputed, contingent or unliquidated claims without assigned dollar amounts, meaning the reported liabilities do not necessarily reflect Francis’ total potential financial exposure.

The documents provide new details about his real estate, personal property, financial transactions and employment following R&R’s collapse. They do not, however, provide a complete accounting of the former company’s assets, debts or remaining obligations to workers and creditors.

R&R’s operations shut down in January, leaving hundreds of employees across the country without jobs and carriers and other freight-related businesses pursuing unpaid invoices. (Photo: R&R) Florida mansion at center of lender dispute The largest asset disclosed is Francis’ residence at 550 S. Barfield Drive in Marco Island, Florida, which he values at $8.

5 million. He also lists two Pennsylvania properties: a residence in Presto valued at $1. 4 million and a Pittsburgh property valued at $200,000. Together, the three properties account for $10. 1 million of his reported assets. The Marco Island residence is central to litigation brought by Huntington National Bank, one of R&R’s principal lenders.

In a lawsuit filed in Collier County, Florida, Huntington alleged that R&R Express Properties LLC transferred the residence to Francis and his wife, Kathleen, in December 2025, as the company’s financial condition deteriorated. The bank has challenged the transfer, alleging that it was intended to place the property beyond the reach of creditors.

Those allegations have not been established by a court. Francis’ bankruptcy schedules list a $5. 3 million secured claim associated with Huntington, but an accompanying filing disputes his personal liability for the mortgage. According to the notes, the mortgage is in the name of R&R Express Properties rather than Francis individually.

The notes also describe a potential claim against Huntington involving an attempted mortgage payoff, the return of funds and a transaction involving Centennial Bank. Francis additionally claims a Florida homestead exemption of $3. 2 million for the Marco Island residence and identifies another exemption basis involving the same property.

The claims have not been established as valid by a bankruptcy court, and the listed amounts should not be treated as separate exemptions that can automatically be added together. The notes caution that none of the scheduled property values is based on a formal appraisal and that Francis reserves the right to amend the figures.

A 99-year lease raises additional questions Another unusual disclosure involves a long-term lease for the Marco Island residence. The court filing identifies a 99-year lease between Francis and R&R Express Properties LLC, with monthly rent of $16,667. 67 plus expenses.

In the accompanying notes, Francis states that the lease was entered into at or near the time R&R Express Properties originally acquired the residence. The filings do not establish whether the lease payments were made consistently, whether the agreement remains in effect or how the lease relates to the December 2025 transfer challenged by Huntington.

Francis reports new $37K monthly income from Giant Logistics The bankruptcy documents also disclose that Francis is employed by Giant Logistics LLC in a commissioned sales position. Court filings report approximately $37,078 in monthly gross wages and commissions from the company.

Francis indicates that he began the position roughly two months before filing his bankruptcy petition. His reported combined household monthly income, including other sources, is $42,751. 54. However, his monthly expenses total $65,283. 45, producing a reported monthly deficit of $22,531. 91.

Francis anticipates that his commissions from Giant Logistics could increase substantially as the business grows, projecting an additional approximately $22,000 per month within s