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
October 15, 2018BusinessLogistics
C.A.T. Holding Boosts Truckload Business in Canada With Purchase of SLH Transport
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, 2017TCA
German Shipping Firm Rickmers Shuts Down Business
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.
June 5, 2017TCA
550 Warehouse Workers to Be Laid Off After Midwest Grocer Files for Bankruptcy
After almost 100 years of doing business, Joliet,Ill.-based Central Grocers filed for Chapter 11 bankruptcy May 4 and will lay off about 550 employees at the company's Joliet warehouse.
May 5, 2017BusinessSafetyGovernment
Southern California Drayage Hauler TTSI Files Chapter 11 Bankruptcy
The parent company of Total Transportation Services Inc. filed voluntarily for Chapter 11 reorganization bankruptcy in federal court in Delaware, citing legal difficulties relating to independent contractors and the California Labor Commissioner.
March 16, 2016BusinessSafetyGovernment
Bankruptcy Trustee Sues Carriers, Seeks Millions in Past Payments
The trustee for TransVantage Solutions Inc., a bankrupt freight bill payment firm, is suing more than 500 truckers and other transport companies in a bid to recoup hundreds of millions of dollars by claiming payments made over several years were improper.
May 18, 2015EditorialBusinessSafetyGovernment
Trucking Failures Slow in 3Q on Rates, Fuel, Report Says
A total of 9,090 trucks were taken off the road due to fleet bankruptcies in the third quarter, a slight decline from the second quarter, as rising freight rates and falling fuel prices helped keep some marginal fleets afloat, Avondale Partners analyst Donald Broughton said.
October 20, 2014BusinessSafetyGovernment
New Century’s Shutdown Leaves Workers Scrambling
New Century Transportation Inc., which reported $267 million in revenue last year but was plagued by funding problems, abruptly shut down and filed for bankruptcy last week, leaving nearly 1,600 workers scrambling to find new jobs.
June 16, 2014BusinessSafetyGovernment
New Century Files for Bankruptcy, Plans Liquidation
New Century Transportation Inc. has filed for bankruptcy, and the less-than-truckload and truckload carrier intends to sell its assets after closing its doors earlier this week.
June 12, 2014BusinessSafetyGovernment
American Roads LLC Files for Bankruptcy
The bankruptcy filing by the private owner of four Alabama toll roads and the operator of the Detroit-Windsor Tunnel is not expected to have any immediate effects on freight haulers, officials said.
August 5, 2013