Bankruptcy

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 | Staff Writer
February 12, 2019
Government, Business

Bankruptcy Judge Gives Sears Another Chance

Sears Seth Wenig/Associated Press

A bankruptcy judge on Feb. 7 approved a $5.2 billion plan by Sears’ chairman and biggest shareholder to keep the iconic business going.

Anne D’Innocenzio | Associated Press
February 8, 2019
Business

CEO Eddie Lampert’s Winning Bid for Sears Valued at $5.2 Billion

Sears store David Paul Morris/Bloomberg News

Eddie Lampert’s winning bid to salvage Sears Holdings Corp. valued the bankrupt retailer at $5.2 billion, according to a statement.

Josh Saul | Bloomberg News
January 17, 2019
Business

Sears CEO Eddie Lampert Wins Bankruptcy Auction That Keeps Company Alive

Sears store David Zalubowski/Associated Press

Eddie Lampert won a bankruptcy auction for Sears with a plan that will keep the rtailer in business and seek to save tens of thousands of jobs, according to a person with knowledge of the discussions.

Bloomberg News
January 16, 2019
Business

Former Sears CEO Raises Offer in Bid to Keep Company Open

Sears store Seth Wenig/Associated Press

Eddie Lampert’s ESL Investments submitted an improved offer of more than $5 billion in an attempt to keep Sears Holdings Corp. in business.

Josh Saul and Katherine Doherty | Bloomberg News
January 10, 2019
Business

Former Sears CEO Gets Another Chance to Save Company

Sears Associated Press

Eddie Lampert will get another shot at keeping Sears Holdings Corp. from liquidation. The Sears chairman and former CEO must put up $120 million by Jan. 9 to get a chance to take part in an auction against other bidders.

Steven Church and Josh Saul | Bloomberg News
January 8, 2019
Government, Business, Logistics

Sears Said to Weigh Liquidation as Lampert’s Bid Falls Short

Sears Patrick T. Fallon/Bloomberg News

Sears representatives summoned liquidation firms and other advisers to emergency meetings on Jan. 4 after rejecting Lampert’s $4.4 billion bid to buy and operate Sears stores.

Eliza RonaldsHannon and Lauren ColemanLochner | Bloomberg News
January 7, 2019
Business

Sears Files for Chapter 11 Bankruptcy Amid Plunging Sales, Massive Debt

Sears store Charlie Riedel/Associated Press

NEW YORK — Sears filed for Chapter 11 bankruptcy protection Oct. 15, buckling under its massive debt load and staggering losses. The question now is whether a smaller version of the company that once towered over the American retail landscape can remain viable or whether the iconic brand will be forced out of business

Anne D’Innocenzio | Associated Press
October 15, 2018
Business, Logistics

C.A.T. Holding Boosts Truckload Business in Canada With Purchase of SLH Transport

Canadian American Transport Holding Inc.

Canadian American Transport Holding Inc. announced that it has acquired SLH Transport in Kingston, Ontario — a move that triples the size of its truck fleet in Canada and provides stability for employees of SLH Transport, a carrier whose owner, Sears Canada, filed for bankruptcy protection in June.

October 6, 2017
TCA

German Shipping Firm Rickmers Shuts Down Business

Susana Gonzalez/Bloomberg News

Shipowner and operator Rickmers Maritime shut down its business and sold off its entire fleet after a last-ditch debt restructuring deal was rejected by its major creditors.

Ben Kritz | The Manila Times (Philippines)
June 5, 2017

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