Cannon Express to File for Bankruptcy Protection

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ruckload carrier Cannon Express Inc. on Tuesday told the Securities and Exchange Commission it would file for bankruptcy protection "at the earliest practicable date."

The company said last month it had commenced proceedings to voluntarily delist its stock from the American Stock Exchange.

In June, a Phoenix-based investment group headed by John Pacheco bought Cannon from founder Dean Cannon. Pacheco is currently Cannon's chief executive officer.