Borden Dairy Co. filed for Chapter 11 bankruptcy protection Jan. 5, blaming rising raw milk costs, reduced milk consumption and increased competition among non-dairy alternatives, including almond and soy milk.
New Class 8 truck orders dipped to their lowest level in a decade in 2019, payback for an ordering frenzy a year earlier.
Ohio-based GDS Express Group Inc. filed for bankruptcy protection after stranding drivers just days before Christmas.
Federal investigation into dismissals at Celadon Canadian subsidiary Hyndman Transport might give Ontario court pause before embracing Chapter 11 proceedings in the United States.
Employees’ and contractors’ struggles with Celadon-owned Hyndman over outstanding pay and questions about the fate of leased trucks are compounded by the lack of legal proceedings in Canada, but that could change.
A Canadian lawmaker criticized Celadon Group’s abrupt closure of Hyndman Transport, calling it a “footnote in their thought process.” Byran May, a Liberal federal member of Parliament whose Ontario district includes Hyndman, told FreightWaves he found the reports of drivers being stranded and the timing of the closure particularly troubling. “You would have hoped there […]
Days after thousands of employees and truck drivers for Celadon Group Inc. received word that one of North America’s largest carriers was filing for Chapter 11 bankruptcy protection, many are still struggling to take in the news.
Celadon Group’s (OTC: CGIP) shutdown comes after cross-border shipping had already lost several other full truckload (TL) carriers this year that provided Mexico service. Matt Silver, founder and CEO of Chicago-based Forager, said Celadon’s closure will affect freight capacity in the U.S. and Mexico alike. “Celadon is one of the largest cross-border providers in North […]
225 employers have posted close to 500 jobs and counting.
The official announcement followed a chaotic weekend of credit, customer, and driver issues,
FreightWaves continues to follow the fallout at Celadon Group. The biggest bankruptcy in truckload history is expected any day. An internal source tells FreightWaves that Indianapolis based Celadon Group will file for bankruptcy protection under Chapter 11. Close to 3,500 employees could lose their jobs. On Monday, December 9th, FreightWavesTV will begin live coverage at […]
Carrier blames rocky freight market, bad lease deal for latest bankruptcy woes.
The billion-dollar truckload carrier’s failure is one of the largest in industry history.
Preliminary orders for new Class 8 trucks tumbled again in November after one month of improved bookings, new evidence that a slowing manufacturing economy is sapping all but critical replacement demand.
Daimler AG announced that it has reached an agreement with employee representatives to trim its workforce by at least 10,000 workers.
Engine maker Cummins will lay off 2,000 workers in the first quarter of 2020, the latest impact of a trucking sector recession that is claiming jobs up and down the supply chain.
Volvo Trucks North America will lay off about 700 workers in January, extending an industry pullback in production to match slowing orders of new Class 8 trucks.
Plus: Amazon takes a hit in Seattle; the first all-electric mobile health lab
The restructuring is keeping 2,500 jobs in place.
Caterpillar Inc. notified 120 workers at its Victoria, Texas, facility that they will no longer have a job effective, November 1. Company officials said “market conditions” are the reason for the layoffs. “Caterpillar notified a portion of its Victoria, Texas, workforce that it is taking actions to bring production in line with demand,” according to […]
