Hertz Eyes Bankruptcy Exit Via $4.2 Billion Stake Sale
In a deal to jettison itself from under bankruptcy protection, Hertz said March 2 that it may sell a controlling stake in the company to two investment firms for $4.2 billion.
March 2, 2021Comcar Industries Declares Bankruptcy
Comcar Industries announced May 17 it is filing for Chapter 11 bankruptcy protection and plans to sell its five operating companies as part of the legal process.
May 18, 2020Timeline: Trucking's Biggest Moments in 2019
Feeling reflective? 2019 was a big year for trucking, with lots of regulatory reforms and bankruptcies dominating the news cycle. Here's a look back at what you all were talking about this year.
December 20, 2019Bankruptcy Judge OKs Plan to Keep Celadon’s Taylor Express Operating
Celadon Group has been authorized by a bankruptcy court to spend $1.2 million before Jan. 3, 2020, to maintain operations for Hope Mills, N.C.-based Taylor Express Inc. — the last of its operating units that is still in business — while it pursues a sale of the company.
December 16, 2019Hendrickson Truck Lines Files for Chapter 11 Bankruptcy
Hendrickson Truck Lines Inc., a small truckload and less-than-truckload carrier based in Sacramento, Calif., declared Chapter 11 bankruptcy Dec. 3, according to federal court documents, blaming a cut in rates and maintenance woes as reasons.
December 9, 2019Celadon Files for Bankruptcy, Shuts Down
Celadon Group Inc. is filing for bankruptcy and shutting down immediately amid falling freight rates and the effects of penalties levied by the U.S. Department of Justice for settlement of securities fraud charges brought against prior management.
December 9, 2019Former Employees of Defunct Carrier LME Are Still Waiting for Paychecks
The efforts by former employees of now-closed New Brighton, Minn.-based trucking company LME to secure their owed back wages and expenses may have gotten a bit clearer.
October 1, 2019Eddie Lampert Loses Ruling Tied to $718 Million Claim on Old Sears
Eddie Lampert suffered a setback in federal court this week when a judge effectively ruled that some of his claims against the bankrupt estate of Sears Holdings Corp. have so little priority that they are likely worth a fraction of what he’s demanding.
August 7, 2019Sears Estate Sues Eddie Lampert, Claiming Illegal Transfer of Assets
The bankrupt estate of Sears Holdings Corp. sued Eddie Lampert and his hedge fund ESL Investments Inc., claiming they wrongly transferred $2 billion of company assets beyond the reach of creditors in the years leading up to the retailer’s bankruptcy.
April 18, 2019New England Motor Freight Shutdown Shakes Less-Than-Truckload Freight Market
In a move sure to shake up the regional less-than-truckload freight market in the Northeast and Mid-Atlantic states, New England Motor Freight filed for bankruptcy Feb. 11 and said it intends to wind down all of its trucking operations.
February 12, 2019