Government, Business

Hertz Eyes Bankruptcy Exit Via $4.2 Billion Stake Sale

A closed Hertz car rental facility during the coronavirus pandemic in Paramus, N.J. A closed Hertz car rental facility during the coronavirus pandemic in Paramus, N.J. (Ted Shaffrey/Associated Press)

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.

Michelle Chapman | Associated Press
March 2, 2021
Business, Equipment, Logistics

Comcar Industries Declares Bankruptcy

Comcar truck Comcar Industries video via Facebook

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.

Dan Ronan | Associate News Editor
May 18, 2020
Government, Business, Technology, Equipment, Safety, Logistics

Timeline: 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. 

Anneliese Mahoney | Associate Editor
December 20, 2019
Government, Business, Top 100

Bankruptcy Judge OKs Plan to Keep Celadon’s Taylor Express Operating

A Taylor Express truck Taylor Express is based in Hope Mills, N.C. (Taylor Express)

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.

Dan Ronan | Associate News Editor
December 16, 2019
Business, Equipment

Hendrickson 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.

Jim Stinson | Staff Reporter
December 9, 2019
Government, Business, Breaking News, Top 100

Celadon Files for Bankruptcy, Shuts Down

Celadon trucks Bloomberg News

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.

Dan Ronan | Associate News Editor
December 9, 2019
Government, Business

Former Employees of Defunct Carrier LME Are Still Waiting for Paychecks

LME trucks LME Inc.

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.

Dan Ronan | Associate News Editor
October 1, 2019

Eddie Lampert Loses Ruling Tied to $718 Million Claim on Old Sears

Sears Alejandro Cegarra/Bloomberg News

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.

Josh Saul and Steven Church | Bloomberg News
August 7, 2019

Sears Estate Sues Eddie Lampert, Claiming Illegal Transfer of Assets

Sears Losses Seth Wenig/Associated Press

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.

Josh Saul and Steven Church | Bloomberg News
April 18, 2019
Business, Top 100

New England Motor Freight Shutdown Shakes Less-Than-Truckload Freight Market

New England Motor Freight A NEMF driver in training. (Timmy Shigley via YouTube)

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.

Daniel P. Bearth | Senior Staff Writer
February 12, 2019