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(WHAS11) - A local trucking company is closing its doors.

Charlie Johnson, owner of C.W. Johnson Express announced the closure on Tuesday.

This after a lawsuit was filed in US district court in Louisville on August 12^th. A bank sued Johnson and his company for a defaulted $8.3 million dollar loan. Now over 100 drivers and 30 office workers are out of a job.

Johnson not only owned C.W. Johnson Express but also a truck driving school.

Johnson attributes the closure to lack of business and clients for his drivers to deliver to and lack of local, state and federal funds to keep his driving school up and running.

In addition, an employee of the  company employee is also under investigation for illegal immigrant smuggling.

In June, a driver was arrested, allegedly trying to smuggle dozens of illegal immigrants in a trailer across the Texas border at Laredo.

Company owner Charles Johnson says that driver may have been duped because contraband could have been put onto the truck in Laredo.

Johnson says the investigation has nothing to do with the company closing. Johnson would not comment on the lawsuit.

C.W. Johnson Xpress was a local trucking company, based in Louisville, owned solely by Charlie W. Johnson. The company has been in business for nearly three years.