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Another bankruptcy. 4000 trucks

Discussion in 'Other News' started by Wespipes, May 17, 2020.

  1. May 17, 2020 #1
    Wespipes

    Wespipes Road Train Member

    1,037
    1,816
    Jul 14, 2019
    0
    Wespipes, May 17, 2020
    Wespipes, May 17, 2020
    #1
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  3. May 18, 2020 #2
    kemosabi49

    kemosabi49 Trucker Forum STAFF Staff Member

    10,913
    47,393
    Jan 13, 2013
    SW Arkansas
    0
    At least Comcar is approaching their demise with a plan to sell their companies to interests that may keep the drivers working. Not like the Celadon debacle. Luck to all those affected.
     
    kemosabi49, May 18, 2020
    kemosabi49, May 18, 2020
    #2
    mjd4277, bryan21384, Western flyer and 3 others Thank this.
  4. May 18, 2020 #3
    otterinthewater

    otterinthewater Road Train Member

    5,575
    29,263
    May 10, 2018
    Santa Barbara, Ca
    0
    When a trucking company gets sold to a private equity firm they regularly seem to go bankrupt, or is that just me?
     
    otterinthewater, May 18, 2020
    otterinthewater, May 18, 2020
    #3
    mjd4277, autopaint, flood and 2 others Thank this.
  5. May 18, 2020 #4
    azheavyduty

    azheavyduty Medium Load Member

    333
    1,056
    Jan 11, 2011
    Glendale, AZ
    0
    Many businesses that are sold to private equity go bankrupt. They normally pile on debt, take out tons of fees and generally rape the company.
     
    azheavyduty, May 18, 2020
    azheavyduty, May 18, 2020
    #4
    mjd4277, autopaint and bzinger Thank this.
  7. May 18, 2020 #5
    LoneRanger

    LoneRanger Road Train Member

    3,688
    9,588
    Jun 3, 2018
    0
    So not really a bankruptcy more like relocating assets.
     
    LoneRanger, May 18, 2020
    LoneRanger, May 18, 2020
    #5
  8. May 18, 2020 #6
    Dave_in_AZ

    Dave_in_AZ Road Train Member

    59,651
    414,951
    May 4, 2015
    0
    So this brings the total to 92,300.

    I still have an open truck.
     
    Dave_in_AZ, May 18, 2020
    Dave_in_AZ, May 18, 2020
    #6
    mjd4277, bryan21384, otterinthewater and 1 other person Thank this.
  9. May 18, 2020 #7
    flood

    flood Road Train Member

    4,168
    4,045
    Dec 25, 2010
    0
    at least Celadon got all the drivers home and paid them unlike Arrow who the day before Christmas just turn off the fuel cards walked out of the office and locked the doors...
     
    flood, May 18, 2020
    flood, May 18, 2020
    #7
  10. May 18, 2020 #8
    brsims

    brsims Road Train Member

    5,296
    6,522
    Aug 8, 2009
    Meadville, PA
    0
    CT going to P&S. Yay, more cheap freight haulers screwing up rates!
     
    brsims, May 18, 2020
    brsims, May 18, 2020
    #8
  11. May 19, 2020 #9
    bryan21384

    bryan21384 Road Train Member

    15,464
    33,649
    Sep 18, 2009
    Memphis, TN
    0
    My friend leases for P&S. His rates on loads seem to hella good there. Then getting CT just gives them more sheet rock to haul
     
    bryan21384, May 19, 2020
    bryan21384, May 19, 2020
    #9
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