Central Freight bankrupt

Man. You guys need to start a corporation fan club. Lol

 

We're not in a mess.

They made a ton of acquisitions in recent years using debt and it didn't payoff. It's not a new phenomenon.

Companies that irresponsibly overleverage themselves to the point of not being able to pay their bills deserve to go out of business. It has nothing to do with their drivers being overpaid, as your post suggested.

The good news is that those drivers are being aggressively pursued by Estes and other carriers that operate across the south. The need for good, experienced drivers right now is insane. None of them will need to work at Walmart, and many of them will end up with much better jobs.

A poorly managed company being put out to pasture is not evidence that the sky is falling.

 

makes me REALLY grateful for ownership where we are. Smart moves in growth. Not perfect of course, but steady growth through service in the face of everything thats come our way.

 

The freight will go somewhere, the Drivers will find out where that somewhere is. Then decide whether to follow it, or look elsewhere.

 

The last couple years it looked like they were making some changes, the two I noticed atleast in Arizona was their new terminal in Phoenix, and I started seeing alot more company linehaul trucks as opposed to the sleeper lease on trucks that were pulling their trailers.

 

How a LTL can manage to go belly up in this booming freight market is a mystery to me. Oh wait, I see Jerry Moyes is involved....never mind then.

I guess I should be grateful to ole Jerry tho because many years ago, he bought out MS Carriers from Mike Starnes and ruined that outfit too as he merged it into Swift. I loved MS Carriers I planned to retire from there, but jumped ship to LTL after Moyes got involved.

Ended up better off in the long run with LTL so thanks Jerry!

 

When they Closed Viking down in 1997, The old Central Freight name and terminals were sold to an Investor group which reopened them.

 

Wrong central

 

Wrong Central... your thinking of Central Transport