Celadon is officially going bankrupt early next week

Discussion in 'Experienced Truckers' Advice' started by LoneCowboy, Dec 7, 2019.

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  1. LoneCowboy

    LoneCowboy Road Train Member

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    Celadon, biggest bankruptcy in truckload history expected by mid-week - FreightWaves

    Get home now!

    from the article: Over-the-road drivers may be at risk of being stranded — our source could not verify that Celadon’s drivers would get home — and should fill their tanks at the earliest opportunity as the company’s fuel cards still work. Celadon’s 3,500 employees could lose their jobs soon.

    Many top customers of the company have been notified, in an effort by management to mitigate freight being stranded after a filling. Celadon handles significant volumes of critical automotive freight and told its customers that it did not want their plants to shut down. Sources not associated with the company have also told FreightWaves that FedEx (NYSE:FDX) has stopped loading Celadon branded trailers.

    Celadon will be the largest truckload carrier to file bankruptcy in history. The north-south truckload carrier has 2,695 trucks, including 2,000 in the United States, 360 in Canada, and 335 in Mexico. The company is a dominant carrier on the I-35 corridor, running freight from Laredo to the Midwest, with a large concentration in the automotive sector.
     
  2. Mid-May Trucker

    Mid-May Trucker Medium Load Member

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    What about my 3 weeks vacation!
     
  3. 062

    062 Road Train Member

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    Take as long as you want
     
  4. ibcalm19

    ibcalm19 Medium Load Member

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    Their top executives are charged with fraud also. You knew you were in trouble months ago but do this to your loyal employees.
     
  5. Dennixx

    Dennixx Road Train Member

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    Gonna be alot of "truckload" sales next week.
     
  6. jason6541

    jason6541 Medium Load Member

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    Feel bad for the drivers, but I think everyone has seen this coming from a 100 miles away. Hopefully drivers pay attention and take steps to exit before being stranded
     
  7. Ridgeline

    Ridgeline Road Train Member

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    This all started in 2017, and it was expected.
     
  8. LtlAnonymous

    LtlAnonymous Road Train Member

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    But in general, somehow trucking companies manage to stay afloat. Look at YRC. They have been circling the drain for a decade now.
     
  9. BackwoodsGA

    BackwoodsGA Light Load Member

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    I still recall when a flatbed company outta Tulsa shut down in 2008.The week of Christmas a guy was stranded in Jackson MISS with his lil dog.I gave him a ride to Tuscaloosa and my company hired him.He woulda been stuck.
     
  10. buddyd157

    buddyd157 Road Train Member

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