Celadon on the ropes...

Over-the-road drivers may be at risk of being stranded — our source could not verify that Celadon’s drivers would get home — and should fill their tanks at the earliest opportunity as the company’s fuel cards still work. Celadon’s 3,500 employees could lose their jobs soon.

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Sources not associated with the company have also told FreightWaves that FedEx (NYSE:FDX) has stopped loading Celadon branded trailers.

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Celadon, biggest bankruptcy in truckload history expected by mid-week - FreightWaves

Article shared by @pete1 in another section ...

just in time

I've been in this position before .... ended up stranded in Denver Co when the
company i was with tanked many years ago ... basically had enough fuel to
drop the trucks off at the nearest dealer and hand them the keys and we were
on our own .

 

You'll be gone in short order bye Felicia...

 

Short order... McDonald's... I'm lovin' it!

 

Who didn’t see this happening!I

 

Hugh Jassle has left the building.

 

Top off all the tanks and get as close to home as possible. I wouldn’t be surprised if creditors have already started repossessing trucks!

 

Does celadon still use their in-house leasing company.
It’s been said that if they (celadon) go belly up then any financial backers or lenders to the leasing company are going to want their $$&
This could result in retroactive truck repossession. Drivers (could ) be required to park their trucks and walk.

I hope it won’t cone to that and if it dies drivers will be able to at least acquire rental vehicles like vans or uhauls to get them and their personal property home

 

Caught "Cooking the Books", Several exec's arrested Thurs.
Several related articles on the financial history and end result of rate cutting to attract more freight ..volume
BREAKING: Mega Carrier Celadon Group to File Bankruptcy, Cease Operations

 

Yup...Do You remember "Charger"?.... folded the week of Christmas, years ago..

 

It's Real .... from the article you posted

Celadon began notifying customers on Thursday, December 5 the company would soon be filing bankruptcy and no longer be servicing accounts.

TNN has confirmed this with multiple large Celadon customers as these customers are currently scrambling to secure needed capacity.


A source with direct knowledge told TNN top Celadon executives are scheduled to meet Sunday afternoon to finalize the bankruptcy filing, which is expected to be official that evening “as close to midnight as possible.”

Though sources indicate the company may file for protection under Chapter 11, it’s expected the company will ultimately liquidate its assets.

While some Celadon executives have been told of the company’s impending demise, most employees have not been notified as of yet, TNN can confirm.

The company’s more than 3,000 employees will likely be notified on Monday, multiple sources said.