The Westport, Connecticut-based company listed assets of $94.1 million and debt of $120.6 million as of Sept. 1 in Chapter 11 documents filed in U.S. Bankruptcy Court in Wilmington, Del., Bloomberg said. 

Twelve affiliates — including CD&L, Click Messenger Service, Silver Star Express, Olympic Courier Systems and Securities Courier System — are also seeking protection, Bloomberg reported. 

With annual revenue of about $200 million, Velocity was the seventh largest package/courier company in the 2009 Transport Topics 100 listing of U.S. and Canadian for-hire companies.