Lightspeed bankrupt?

He's holding the phone out....Google translate at the ready! Sittin like the vultures they are.

 

Was reading on broker forum, apparently Light Speed has informed some customers they’re going under. And they’re also holding freight hostage. Demanding more money before delivering.


I-Way Transport recently went bankrupt as well.

 

I-Way, Light Speed & earlier this year JBT and Pride Group all Bankrupt. It's a Sh*tshow Massacre industry now. In a few months they're deporting all these foreigner steering wheel holders too plus tariffs are keeping a lot of import freight at a lesser margin towards any profitable level if possible at all. Canada Post is bankrupt and carriers existing are scrambling around trying to stay afloat on a daily basis because tomorrow's freight can change on a whim. This has got to be the scariest time in the freight market ever!! The word, 'Chaos' has become an understatement.

 

The chickens coming home to roost!

Don't forget Grace Road Lines, that had a HUGE ripple effect out here in Calgary; with tons of shops having to go after them for money. Lets also not forget, that Bison has technically went bankrupt 2-3x over. The only thing keeping them afloat, is Richardson's pumping in hundreds of millions, just to keep them going and servicing Nutrient and Pioneer. Now that they have lost Walmart, Loblaws and Canadian Tire, there is no way for them to operate as a freight carrier without massive subsidies.

Everyone has been saying it since 2016 tho, the whole industry was in a race to the bottom. Well; they finally found it! (and went through it)

 

Looks good on all of them and I couldn't care less.

 

Amen to that!

 

Just found a new article on trucknews and apparently for the last 9 months have unpaid wages and owe NBC 9 million us


NBC says it’s owed $9M by Light Speed, warns of driver walkouts and stranded equipment - Truck News