Jevic Transportation filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court in Delaware, one day after the company announced it was going out of business.

On the company’s Web site, President and CEO David H. Gorman cited “the current high fuel costs, economic downturn, increasing insurance costs, and tightening credit markets.”

The Delanco, N.J., less-than-truckload freight transportation company will “deliver all freight within our system prior to closing,” Gorman said.

According to the Jevic Web site, the company was formed in 1981 in Willingboro and Delran, N.J., with a “unique operating model which handled freight less than conventional carriers.”

The company was taken private two years ago. A realignment to cut costs “was going as planned,” the company said, until the problems in the economy “were too much for us to overcome,” said Pete Robinson, director of marketing and corporate communications on the Web site.