New Century Transportation Shuts Down

Discussion in 'Truckers News' started by Junkcanoe, Jun 9, 2014.

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  1. Junkcanoe

    Junkcanoe Bobtail Member

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    Looks like all employees were sent a notice today informing them of a permanent shutdown due to operations financing issues. Anyone else have any additional information about what happened?
     
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  3. pattyj

    pattyj Road Train Member

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    WOW!!!!!!!!! If true that's too bad.Once upon a time I wanted to drive for them.
     
  4. kid_cardiac

    kid_cardiac Medium Load Member

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    Their website is still up and running. I think we need some actual employees to verify this.
     
  5. kid_cardiac

    kid_cardiac Medium Load Member

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    New Century shutdown.jpg
    OK...looks can be deceiving. But if this is any indication......
     
  6. Junkcanoe

    Junkcanoe Bobtail Member

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    I received that same notice in my email earlier today. How large was their fleet?
     
  7. Sublime

    Sublime Road Train Member

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    I've had better luck reading postage stamps.
     
    281ric, jbee, SHO-TYME and 10 others Thank this.
  8. lne216

    lne216 Bobtail Member

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    Apr 15, 2014
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    It is true. Letter states chapter 7.
     
  9. Junkcanoe

    Junkcanoe Bobtail Member

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    Mar 26, 2014
    Springfield, MO
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    It says:

    This is to notify you that, due to an unforeseeable and dramatic change in business circumstances beyond its control, New Century Transportation, Inc. ("NCT" or the "Company") expects that it will permanently shut down its operations and all of its facilities, including the facility located at 45 East Park Drive, Westampton, New Jersey, and will terminate all employees.

    The unforeseeable need to shut down operations arose when NCT's lender recently and unexpectedly declined to continue funding their business operations. NCT immediately took steps to seek financing and other alternatives, including a sale of all or party of the Company, in order to continue its operations, but to date, its efforts have been unsuccessful. NCT will file for relief under chapter 7 of the United States Bankruptcy Code. NCT reasonably believes that it could not have provided earlier advance notice of the shutdown because such advance notice would have precluded NCT's ability to secure alternative financing or a sale of the Company.

    The following information is provided to you in accordance with the provisions of the Worker Adjustment and Retraining Notification Ace (the "WARN Act") and the New Jersey Millville Dallas Airmotive Plant Job Loss Notifications Act.
     
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  10. CaptainX3

    CaptainX3 Road Train Member

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    Word is spreading on FB groups of drivers stranded. Apparently this is turning into Arrow all over again, assuming any of it is true.
     
    volvoboy Thanks this.
  11. drvrtech77

    drvrtech77 Road Train Member

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    Wasn't new century started by the same person who started jevic?
     
    123456 Thanks this.
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