CELADON ABOUT TO GO OUT OF BUSINESS?

Seling stuff off because they cant pay back that huge loan they took... Eventualy they will run out of stuff to sell and wont be able to continue.

The only reason they are still operating because of that loan and there massive amount of assets. They are still hemorrhaging money. They just cant cover there massive operating cost with so few of there trucks being utilized.

 

Dang. So that’s what I was missing. I had no clue. Thanks for the info.

 

Well ya. There’s always that. LOL

I just feel for the drivers.

 

After we reorganize properly: and I think it will take another year or so: we probably won’t be a MEGA anymore: Celadon never should have expanded so quickly and so far like the old corporate younguns tried to do a few years ago while the founder of the company slowly gave up control due to his illness.

 

Hopefully it works: it might not and we might have to be absorbed by another company: but, so far nothing has changed for me in the last 2 years of all of this shuffling. Actually, my income has increased as they have increased driver compensation.....

 

Celedon started quality and raped drivers the companies would take money and supposedly remit for notes; the money would vanish and the truck get repossed. Read reviews from hundreds on google.

 

Maybe people shouldn’t be lease operators until they really know what they are doing!

 

One of the office Eagle guys was in the Eagle forum blaming the lease ops for their failures. Now that we have the scope of time to look back, we can see that Eagle was ripping off the lease ops very badly.

 

Just 2 weeks ago, Celadon sold off it subsidiary companies that are based in PA to Day & Ross. Buckler Transport (Roulette, PA) and A&S Kinard (York, PA).

 

They’ve done nothing but rip off drivers for years quality leasing,eagle,etc.Karma is a *****!