Celadon on the ropes...
Discussion in 'Celadon' started by double yellow, May 3, 2017.
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Jarhed1964, bzinger, Vic Firth and 2 others Thank this.
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Celadon expanded quality with intentions of not actually letting most complete lease. The Eagle logistics non payment to owner operators and the repossession of trucks and trailers leased from Quality while on time payments were being remitted by Trucking companies were never accounted for to every driver when you enter any Lease to Own rather with trucking company or not you the lease clause gives the company the right to allow you to sublease non owned equipment thats why most have a excessive balloon aka trac lease. Learn from Celedon these companies have no limits to wasting time, monies, and lives.I hope they be honorable and get the drivers home or at least pay them. If I was there I would go home empty out truck.I would use up vacation and if they shut it down well at least I'm home.
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Here in Greenfield, IN at the Pilot and at least two Celadon bobtails parked and a third pulling a box drawing fuel. So at least as of this morning the drivers can still fuel if that helps.
88 Alpha, Jarhed1964, bzinger and 4 others Thank this. -
Celadon officials are now telling the media they are not closing down.
Celadon's liquidity dropped below their creditors' threshold last week and they could not reach an agreement for another amendment. It sounds like the straw that broke the camel's back was the GM strike September 15-October 25.
That's good news - it suggests this could still be a transient problem which can survive chapter 11...88 Alpha, Jarhed1964, bzinger and 2 others Thank this. -
88 Alpha, Jarhed1964, bzinger and 4 others Thank this.
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Not to be devils advocate but are they just playing lip service to avoid a warn violation ....either way I'd be looking for another job of they weren't finished the "run on the bank scenario" could have pushed them over the edge
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