Celadon closing up shop!

Celadon is self insured, i doubt they'll dump equipment and drivers all over the country without a couple of days window /notice to do it legally .

 

Payroll is considered the highest level of creditor. If there is anything left they are first in line to paid. Then comes creditors that have been secured by assets.
Then bond holders then stockholders in that order.

 

and that's the $64,000 question..how much will be left, and if any, will the employees only get a percentage of the pay, in order to spread out the payments?

don't really matter the size of the company, mega, large, medium, or small.....bankruptcy is gonna suck for anyone.

all we can do is sit back and wait for soon to be former employee's to come and tell us how they made out in the end.

 

I've made money at every company I've worked for..not living my life in a cascadia or prostar..

 

Opens the door for us o/o..feel sorry for the drivers that work there hope yall dont get stuck out on the road like others have in the past.

 

I love it when a know-it-all has no clue what they're talking about

 

so, you say wait while they make arrangements for you to drive their equipment to the auction?
sounds like more unpaid waiting and driving time to me
maybe a good policy would be never be a cheerleader or recruiter in an industry of sharks
one of the male cheerleaders sent me a PM last year hatefully asking when his fuel card was getting turned off
look at yourself
you have been in a sleeper truck 24/7 and you need charity to get home
obviously you dont make enough money

 

You worked for Crete 12 years..joined tr today..just to tell us how great they are?

 

another thing with the cheerleaders/recruiters
they like to make statements like "we bought new trucks" " we bought new trailers" "we have a new payroll scam"
then they claim to be lowly drivers thrown out on the street like the rest of them

 

All too fresh in my mind is when Arrow folded in 2008.The company left MANY stranded.

 

That is true,my brother was one of the drivers stranded.