A Wall Street analyst who tracks Celadon Group said a lack of time and weakness in the trucking sector contributed to the companys decision to file for bankruptcy and close its doors.
December 10, 2019GovernmentBusinessBreaking NewsTop 100
Celadon Files for Bankruptcy, Shuts Down
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, 2019GovernmentBusinessTop 100
Two Former Celadon Executives Charged in Fraud Scheme
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 companys income and earnings per share.
December 5, 2019BusinessTop 100
Celadon Gets $165 Million Infusion From Luminus Management
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, 2019BusinessEquipment
Class 8 Orders in July Sink to Lowest Level Since 2010
Class 8 orders were down to their lowest level since 2010 in July, according to preliminary numbers from ACT Research.
August 5, 2019BusinessTechnologyTop 100
Fleets Transitioning to New Management as Industry Prepares for the Road Ahead
As the trucking industry enters a new age, fleets increasingly are turning to a new generation of leaders.
June 24, 2019BusinessLogisticsTop 100
Celadon Group Sells Intermodal Operations to Bison Transport
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, 2019GovernmentBusinessTop 100
Celadon to Pay $42.2 Million After Admitting to Accounting Fraud
Celadon Group Inc. has agreed to pay $42.2 million to settle a federal investigation into allegations that a prior management team and a subsidiary company filed false and misleading statements to investors regarding tractors and trailers leased to owner-operators.
April 25, 2019BusinessLogisticsTop 100
Celadon Sells Logistics Group, Hopes for Financial Reporting in Fall
Celadon Group Inc. is selling its Celadon Logistics brokerage and third-party logistics subsidiary in a $60 million deal that helps advance the Indianapolis-based companys plan to shore up its business in the wake of accounting troubles that date back several years.
April 22, 2019Business
Celadon Vows Back to Basics as Stock Nears Delisting
The leaders of beleaguered carrier Celadon Group said they were focused on getting back to basics after a year of turmoil and an inevitable delisting of its stock by the New York Stock Exchange.
April 3, 2018