Largest Trucking Bankruptcy in History This Week?
By AlpLocal News
December 9, 2019
INDIANAPOLIS – Celadon, a giant trucking company, is declaring bankruptcy this week on December 11 or earlier, inside sources have confirmed. Over 3,200 truck drivers will lose their jobs while on the road.
If this happens, as reported, it will be the largest truckload bankruptcy in history. This bankruptcy will leave thousands of drivers stranded and away from home.
Facebook groups have now started to appear geared towards connecting drivers with resources.
It’s being reported that some driver’s gas cards are now turned off with the advice to go to the nearest fueling station and fill up the fuel tanks, immediately, while they are still active.
Once this process starts, drivers will have to find their own way home using whatever way they can (car, bus, train or plane).
UPDATE
Caledon filed for Chapter 11 bankruptcy on Monday, December 9, 2019. The company assured truck drivers via an internal memo on Monday night that they would not be stranded and that they would receive full payment for their work.
With over 2,500 truck drivers, over 1,300 administrative employees, and over 380 owner operators on the company books, Caledon’s bankruptcy will have a long lasting affect on a lot of hard working families just before the holidays.
Celadon Management informed all employees and contractors this: “We have been assured that everyone who follows instructions will be paid for the work and miles assigned and completed, and Celadon will not leave anyone stranded away from home”.
According to a federal filling, Celadon is seeking to pay 3,800 employees around $3.9 million dollars in unpaid wages, along with more than $1 million in termination bonuses. This works out to be about $267 per worker.
On a seperate, unrelated to Celadon, note: Industry sources are reporting that over 1,000 drivers lost their jobs in November 2019.
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Written by
AlpLocal News Team
