Celadon Trucking is set to file bankruptcy in the coming days, so says many sources including HERE. This would be the largest trucking company bankruptcy in history. Is this the economy or something else? Celadon Trucking has a history going back years of accounting problems including exaggerating their assets to get loans. This sent their stock down the toilet and Friday it was 41 cents. It is reported that FedEx will no longer load Celadon trailers that are dropped on its property. Also, I have received several letters from LP drivers at Celadon and they say the company abruptly cancelled their leases on Friday. I was told this was because Celadon took the payment from the drivers but did not forward it to the leasing company, although I cannot verify that. It has happened at other companies, though. Company drivers are encouraged to fill their trucks immediately and keep them full as we do not know when or if the fuel cards will be shut off.
Look, I have been warning about this company for a while now. The writing has been on the wall. Even if they do not close and somehow restructure their way out of this, do you want to chance your next paycheck on Celadon?
It will be an interesting few days as we see what will happen to Celadon. I will have more information as it becomes available. If there are any Celadon drivers with any information about the fuel cards or just anything, please write to me HERE.
See you on the road!
Hi! Welcome. I'm Mark and I've been a professional truck driver for over 33 years, the last 19 years at the same company. It is time that drivers got paid for every minute that we work and we are treated like the licensed professionals we are.