CF Ends Deliveries, Closes Down, Gets Ready to Sell

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img src="/sites/default/files/images/articles/printeditiontag_new.gif" width=120 align=right>Consolidated Freightways Corp. has completed delivery of freight that remained in its system and has shut down its U.S. trucking operations, the company said Oct. 10.

CF officials said they are now preparing to sell some of the company's assets, either piecemeal or to a single buyer, such as Rollin' International, which has said it will offer more than $500 million for everything.

Consolidated will ask the bankruptcy court overseeing dispersal of its holdings for permission to sell about 12 out of 350 terminals for nearly $50 million, spokesman Mike Brown said. Those terminals have undergone required environmental reviews and there are interested buyers, Brown said.

For the full story, see the Oct. 21 print edition of Transport Topics. Subscribe today.