Celadon
Celadon Reaches Deal to Sell Taylor Express for $14.5 Million
Taylor Express via Facebook
An agreement has been reached to sell the last remaining operating trucking company, Taylor Express, that is part of the now-bankrupt Celadon Group of Indianapolis.
January 24, 2020Bankruptcy Judge OKs Plan to Keep Celadon’s Taylor Express Operating
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.
December 16, 2019Industry Leaders: Celadon Drivers, Others Recently Laid Off Likely to Find Work
In the first nine months of 2019, according to Broughton Capital, 795 trucking firms shut down, more than in all of 2018 when 310 companies shut their doors. (Chalirmpoj Pimpisarn/Getty Images)
Recent headlines concerning the trucking industry’s economy have been somewhat foreboding, but industry leaders are optimistic workers laid off can find new jobs.
December 12, 2019Celadon Group Top 10 Unsecured Creditors
Here are the top unsecured creditors that are not company employees listed in Celadon’s bankruptcy petition.
December 12, 2019Celadon Files for Bankruptcy, Shuts Down
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.
December 9, 2019Two Former Celadon Executives Charged in Fraud Scheme
John Sommers II for Transport Topics
The Securities and Exchange Commission and federal prosecutors on Dec. 5 charged two former top executives of Indianapolis-based trucking company Celadon Group Inc. for their participation in an accounting fraud in 2016 and 2017 that allegedly inflated the company’s income and earnings per share.
December 5, 2019Celadon Gets $165 Million Infusion From Luminus Management
(Alan Petersime/Bloomberg News)
An investor that helped Celadon Group Inc. refinance its debt has acquired nearly half of the company through a $165 million deal that the motor carrier said will help it move forward with its turnaround plans.
August 15, 2019Class 8 Orders in July Sink to Lowest Level Since 2010
John Sommers II for Transport Topics
Class 8 orders were down to their lowest level since 2010 in July, according to preliminary numbers from ACT Research.
August 5, 2019Fleets Transitioning to New Management as Industry Prepares for the Road Ahead
Ruan CEO Ben McLean (center) and Chairman John Ruan III meet with drivers and other employees in La Vergne, Tenn. McLean is part of a new generation of leaders taking the reins at major trucking firms. (Ruan Transportation Management Systems)
As the trucking industry enters a new age, fleets increasingly are turning to a new generation of leaders.
June 24, 2019Celadon Group Sells Intermodal Operations to Bison Transport
John Sommers II for Transport Topics
Celadon Group Inc. sold its North American container-on-flatcar intermodal operations to Bison Transport of Winnipeg, Manitoba, according to an April 26 press release.
April 29, 2019