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  • #31
    Re: Another trucking bankruptcy

    https://freightbrokerlive.com/breaki...QBmVv5FbKIfRa8

    Cold Carriers Logistics originally filed for Chapter 11 Bankruptcy protection September 27th. 2019, initially reported by Bloomberg Law. Cold Carrier’s affiliated trucking companies — including Interide Transport, Gantt Trucking and Sunco Trucking — were also listed in the bankruptcy filings. These midsize regional carriers were acquired by Cold Carriers and consolidated into a single company.

    The trucking group was formed when private equity firm KJM Capital purchased the three companies between 2015-2017 and formed the one parent.

    While a post on Sunco’s social media page three days after the original bankruptcy filing assured drivers that “WE’RE OPEN FOR BUSINESS” and that there is “NO NEED TO START OVER WITH ANOTHER COMPANY,” it appears that is not true for the 349 drivers that will be looking for a new home.

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    • #32
      Re: Another trucking bankruptcy

      Not a bankruptcy, just an outright closure of this company as they claim increased operating costs, insurance and ELD mandate caused them to shut the doors.

      Tennessee reefer carrier closes after nearly 70 years
      A Nashville-based trucking company has shut down for good after 69 years in operation, according to new reports.
      According to Freightwaves, refrigerated carrier Howard Baer Inc. ceased operations January 31, 2020, with company leadership citing increasing government regulations as the reason for their exit.
      The most recent information from the Federal Motor Carrier Safety Administration (FMCSA)’s SAFER website indicates that the company operated 95 trucks and employed 198 truck drivers.
      Since the ELD Mandate went into effect for most drivers in December 2017, hundreds of trucking companies have gone out of business, citing increased insurance costs, softness in the freight market, government regulations, and difficulty in hiring qualified drivers as reasons for shuttering operations.
      https://cdllife.com/2020/tennessee-r...arly-70-years/

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      • #33
        Re: Another trucking bankruptcy

        Another trucking closure in northern California.

        Northern California-based union carrier to cease operations after 48 years
        Roughly 130 unionized drivers for Rodgers Trucking Company of San Leandro, California, will be looking for new jobs after the company announced it will cease operations after 48 years in late April.
        Rodgers Trucking, which hauls dry freight, including wine and spirits, beverages, and food ingredients, filed a Worker Adjustment and Retraining Notification (WARN) Act notice with the state in late January. The notice stated the carrier, founded in 1972, will shutter operations by April 30.
        Alan Osofsky, safety and compliance manager of Rodgers Trucking, told FreightWaves on Thursday that the high cost of doing business in California, as well as the financial challenges of being a union carrier vying for loads against low-cost nonunion companies, was difficult.
        https://www.freightwaves.com/news/no...79175252108775

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        • #34
          Re: Another trucking bankruptcy

          The numbers are getting pretty scary. Hard to believe there is a trucker shortage anymore.

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          • #35
            Re: Another trucking bankruptcy

            A sudden closure of a small California company.

            California Trucking Company Abruptly Shuts Down, Investors “Threw in the Towel”
            Paso Robles, CA – A California-based trucking business abruptly closed its doors on Friday as Michael Dusi Trucking and Michael Dusi Logistics (MDL) announced it was shutting down “effective immediately.”
            MDL was founded 20 years ago by Michael Dusi and provided specialized logistics solutions to the California wine and craft beer industry including direct-to-consumer fulfillment and wine clubs, regional bulk, refrigerated, flatbed and dry-van trucking, heavy haul, over-dimensional, food grade tanker as well as truckload and LTL brokerage.
            According to data from the Federal Motor Carrier Safety Administration (FMCSA), MDL operated 45 power units and employed 45 drivers.
            https://transportationnation.com/cal...-in-the-towel/

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            • #36
              Re: Another trucking bankruptcy

              This closing is a small carrier in Illinois.

              Illinois carrier to cease operations: cites brutal freight market, soaring insurance costs
              Family-owned BK Trans Inc. of Arlington Heights, Illinois, said it will cease operations in March, citing a brutal freight market, the ongoing struggle to find qualified drivers and soaring insurance costs as the main reasons behind the small carrier’s decision to close after 10 years.
              The company, which hauls produce and general freight, had 20 trucks in 2018, but that number dwindled in 2019 as rates dropped and Kiszkiel struggled to find qualified drivers.
              Over the past 24 months, BK trucks have been inspected 21 times and nine were placed out of service, resulting in a 43% out-of-service rate, according to the Federal Motor Carrier Safety Administration (FMCSA) SAFER website. Its drivers were inspected 52 times and three were placed out of service in the same two-year period.
              https://www.freightwaves.com/news/il...nsurance-costs

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              • #37
                Re: Another trucking bankruptcy

                Originally posted by fxstc07 View Post
                This closing is a small carrier in Illinois.

                Illinois carrier to cease operations: cites brutal freight market, soaring insurance costs



                https://www.freightwaves.com/news/il...nsurance-costs
                Maybe he couldn't get good drivers because of his 43% out of service rate. That IMO would be a game changer. With produce you cannot survive on that rate. I hauled produce for Waldbaums supermarkets and when they had a problem with a truck on the road they rented a truck to get the load home . Load was most important. Especially in today's world of appointment deliveries.. If your carrier is late a lot then you get a different carrier....I would imagine there are many shippers who go by the scores carriers are given but the DOT.

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                • #38
                  Re: Another trucking bankruptcy

                  This is a post lost from last night.
                  Another small Wisconsin carrier has ceased operations.

                  Breaking: Wisconsin carrier ceases operations over skyrocketing insurance, maintenance costs
                  After 13 years in business, 101 Transport Inc. of Hudson, Wisconsin, has ceased operations, citing skyrocketing insurance rates and maintenance costs as the main reasons behind the decision to close.
                  Tom Dahlberg, owner of 101 Transport, said the death knell for his company was when his insurance rates spiked 70% compared with the previous year after one of his trucks was involved in a serious crash in Utah in 2019.
                  “Insurance is making it untenable to do business,” Dahlberg told FreightWaves. “The government has got to step in on this issue before more companies go out of business.”
                  Dahlberg had 72 company drivers and the same number of power units until about six months ago, when he was forced to let his company drivers go and return the equipment in an effort to keep the carrier afloat.
                  At the time of the company’s closure, he had 32 owner-operators hauling contract freight for 101 Transport. He said drivers were notified of the company’s closure on Feb. 29.
                  https://www.freightwaves.com/news/br...ntenance-costs

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                  • #39
                    Re: Another trucking bankruptcy

                    Ok , I have to ask this...where are all the suits that used to blame every trucking closure on the high cost of UNION labor?

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                    • #40
                      Re: Another trucking bankruptcy

                      Originally posted by x475 View Post
                      Ok , I have to ask this...where are all the suits that used to blame every trucking closure on the high cost of UNION labor?
                      Getting another high paying job with some other carrier.
                      Like I was always told, freight is like the dog chasing his tail. What goes around, comes around.

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                      • #41
                        Re: Another trucking bankruptcy

                        Originally posted by x475 View Post
                        Ok , I have to ask this...where are all the suits that used to blame every trucking closure on the high cost of UNION labor?
                        They probably think it's all UPS Parcel fault for paying their drivers so well........if UPS didn't have to do that......then they could pay nothing.
                        It's always aaaaaaaaaaallllllll oooooouuuurrr fault.

                        Comment


                        • #42
                          Re: Another trucking bankruptcy

                          Another company closes. Bad times.

                          Breaking: Oklahoma-based trucking company ceases operations after 77 years
                          Family-owned Beaver Express Services of Woodward, Oklahoma, notified drivers and employees on Monday that the less-than-truckload (LTL) carrier is ceasing operations after 77 years.
                          Mike Stone, president of Beaver Express, told FreightWaves that the coronavirus outbreak, soaring insurance costs and oil prices plunging to around $32 per barrel in March was the “perfect storm” that forced the company to wind down operations.
                          He admits the company has been struggling for about two years. Stone said he explored every avenue to stay afloat or find another LTL carrier willing to buy the company, but failed to find one in time.
                          Beaver Express had around 160 drivers and 218 power units, according to the Federal Motor Carrier Safety Administration SAFER website. Stone said the company has approximately 10 owner-operators and around 100 part-time and full-time independent contractors who mainly delivered in rural areas in the five-state region where the company operated.
                          https://www.freightwaves.com/news/br...after-77-years

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                          • #43
                            Re: Another trucking bankruptcy

                            Another bankruptcy. This carrier employs 4500 people.

                            Comcar files for Chapter 11, plans to sell five subsidiaries
                            Motor carrier holding company Comcar Industries announced on Sunday, May 17, that it has filed for court-supervised bankruptcy protection and plans to liquidate by selling off its five trucking companies. The company employs 4500 and has 4000 trucks, according to Comcar’s website.
                            According to the company’s website, Comcar dates its history back to 1953. CCC was the original company that launched what ultimately became Comcar, which was sold to private equity in 2016.
                            Comcar is filing under Chapter 11 of the federal bankruptcy code in a pre-packaged action that is also governed by the section 363 sale process. Under the 363 sale process, the announced buyers of the Comcar assets are considered to be “stalking horses” that ultimately could be outbid for the assets in an auction process supervised by the bankruptcy court.
                            In a prepared statement attributed to Comcar senior management, the company said it decided to file for bankruptcy protection “to better enable us to find homes for our customers, people and assets.”
                            https://www.freightwaves.com/news/co...e-subsidiaries

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                            • #44
                              Re: Another trucking bankruptcy

                              This small Oklahoma company has shut down.

                              Another Trucking Company Shuts Its Doors Due to Coronavirus
                              An Oklahoma trucking company shut its doors this week, citing coronavirus and a failed “sale of the business” as the cause.
                              Stone Trucking Company has closed its Keifer, Oklahoma terminal. The closure affects 51 employees, the company’s WARN letter states.
                              Safer shows that Stone Trucking had 15 trucks and 13 drivers.
                              Stone Trucking was established 75 years ago. Earlier this year, in February, Stone Trucking’s Facebook post reflected that Stone Trucking would now be called Action Specialized.
                              https://cdllife.com/2020/another-tru...-corona-virus/

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                              • #45
                                Re: Another trucking bankruptcy

                                A small Illinois carrier has filed for bankruptcy.

                                Illinois trucking company files Chapter 11 bankruptcy
                                An Illinois motor carrier that employs several dozen truck drivers has filed for bankruptcy protection after the company was sued for failure to pay their bills.
                                On June 7, Bensenville, Illinois-based carrier Park Transportation Inc. filed for Chapter 11 bankruptcy in the Northern District Court of Illinois.
                                According to the FMCSA’s SAFER website, Park Transportation operates 98 power units and employs 83 drivers.
                                The bankruptcy filings list Park Transportation’s assets at $0 to $50,000 and their liabilities at $1 million to $10 million.
                                Court records say that the bankruptcy comes after Park Transportation was sued by Royal Savings Bank and DCT Cargo LLC for failure to meet financial obligations.
                                https://cdllife.com/2020/illinois-tr...11-bankruptcy/

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