Celadon on the ropes...

Discussion in 'Celadon' started by double yellow, May 3, 2017.

  1. drvrtech77

    drvrtech77 Road Train Member

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    That sucks..especially this time of year 2 weeks before xmas...
     
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  3. Majestic 670

    Majestic 670 Heavy Load Member

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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.
     
  4. LtlAnonymous

    LtlAnonymous Road Train Member

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    Harsh, but true.
     
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  5. Ringo1

    Ringo1 Light Load Member

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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.
     
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  6. double yellow

    double yellow Road Train Member

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    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...
     
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  7. drvrtech77

    drvrtech77 Road Train Member

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    Sure hope so... as much many of us despise a lot of these companies I hate to see anybody lose their jobs especially at Christmas time..
     
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  8. bigdad7

    bigdad7 Road Train Member

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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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  9. blairandgretchen

    blairandgretchen Road Train Member

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    Howdy there stranger!
     
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  10. double yellow

    double yellow Road Train Member

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    Maybe, but Luminus owns 50% of Celadon so they should be pretty motivated to find a way forward even without Blue Torch.
     
  11. G13Tomcat

    G13Tomcat Road Train Member

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    I was thinking the same thing.....thought it was 'flashbacks' or something~! ;)
     
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