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Dec 15, 2021 · 9 min. Analysts, industry insiders and some of Central Freight Lines’ executives and truck drivers liken the LTL carrier’s demise to a “five-year death spiral” after the company lost a major customer, then acquired two failing companies. The end of the 96-year-old company was the biggest shutdown in trucking since Celadon in December 2019.
Dec 13, 2021 · Central Freight will cease picking up new shipments effective Monday and expects to deliver substantially all freight in its system by Dec. 20, according to a company statement. A source familiar with the company said he is unsure whether CFL will file Chapter 7 or “liquidate outside of bankruptcy,” but that the LTL carrier has no plans to ...
Dec 12, 2021 · Trucking company Central Freight Lines Inc. will wind down its business in the coming weeks after failing to halt years of losses despite strong demand in freight markets during the pandemic,...
Dec 13, 2021 · Central Freight Lines is ceasing operations after nearly a century in business, the company announced Dec. 13. The Waco, Texas-based less-than-truckload carrier said it had started winding...
Dec 15, 2021 · December 15, 2021 9:32 AM | 7 min read. Partner Disclosure. Analysts, industry insiders and some of Central Freight Lines' executives and truck drivers liken the LTL carrier's demise to a...
- Freightwaves
Dec 16, 2021 · No one thought Central Freight Lines would fold or file for bankruptcy, said Jindel, pointing to the 2020 acquisition of Volunteer Express. Such sudden news of closures and bankruptcies can sometimes be the canary in the coal mine, a sign of a big wave of business receding back into the ocean.
Dec 13, 2021 · Central Freight Lines Inc., a so-called less-than-truckload shipper, has begun winding down its operations after racking up losses and running low on cash, according to a <-bsp-bb-link state=" {"bbDocId":"R42MQN6QRTHC","_id":"0000017d-b5a7-d7f0-a77d-ffaf0bd40000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">statement.
