Celadon, biggest bankruptcy in truckload history expected by mid-week

MikeJr

Moderator
Staff member
30
They are down the road from us, lights are off as of now.

So you're about to have some highly qualified drivers (with hazmat training) offer services to your employer. Hopefully you can pick up a few good ones.

Keep well,
Mike
 

Nawk

Well-Known Member
30
So you're about to have some highly qualified drivers (with hazmat training) offer services to your employer. Hopefully you can pick up a few good ones.

Keep well,
Mike
The drivers likely will not have a very difficult time finding a new truck to sit in. However, there will likely be a delay in their pay and who needs that at this time of year. The office and garage staff at all locations might have a tougher time finding new employment. Especially looking at the latest unemployment numbers.

A very tough time for all involved.
 

MikeJr

Moderator
Staff member
30
Well said and definately too bad on the 'time of year' for the drivers. For those companies that offer a signing bonus it could help with the gap in steady pay.

Another reminder to give, give, give to your local food bank. There are people in need and your generosity can change Christmas for someone. I'd go on about a great local non-profit that does amazing thing for families in Hamilton but I don't know if Admin would approve. PM me if interested.

Keep well,
Mike
 

lowmiler88

Site Supporter
30
Does anyone know who they lease trailers from? I'm looking for trailers and wouldn't mind seeing what they have.
 

Nawk

Well-Known Member
30
Does anyone know who they lease trailers from? I'm looking for trailers and wouldn't mind seeing what they have.
lowmiler... I'm 99% sure that they had their own leasing operation called Quality Equipment (or something similar to that) that leased the equipment to the carrier division(s).

I haven't seen if that company is filing as well.
 

Igor Galanter

Well-Known Member
20
One little bird once told me to be cautious if I want to buy truck after Celadon or affiliate. Especially International model LONE STAR. Celadon has a very special order on regular PRO STAR with LONE STAR hoods only to make them more attractive to lease to interested parties..
Just a word of advise...
 

Freight Broker

Well-Known Member
30
They perhaps grew too fast.. bought Gerth years ago.. Hoss Cartage as well as Hyndman more recently.. Never really understood why they'd buy Hoss as they were primarily LTL..
 

dad2andrew

Well-Known Member
20
They perhaps grew too fast.. bought Gerth years ago.. Hoss Cartage as well as Hyndman more recently.. Never really understood why they'd buy Hoss as they were primarily LTL..

I think maybe when Bob got out and started Hostler, he just went to TL, or still LTL? Everytime I used them it was for TL's.

Kevin.
 

Freight Broker

Well-Known Member
30
I think so... If memory serves me correct they did TL south and LTL back to Canada.. I used them for some LTL years ago with good results. Only issue I have had with them was getting into tight spots at shippers.. Their trucks really weren't well configured for LTL.
 

crosgre

Member
10
obviously a tough week for many people at Celadon/Hyndman and timing could not be worse for these employees. I want to take this opportunity to give a shout out to Amanda at Hyndman for her assistance this week. I can only imagine what her week has been like, yet through it all she has been incredibly helpful and responsive.
 

Freight Broker

Well-Known Member
30
Terrible week for the shareholders as well.. the whole kit and caboodle worth less than 12 million, far below book value.
 

loaders

Site Supporter
30
Certainly the worst time to try and move used equipment. Friends of mine in the wholesale and retail market tell me used truck prices are severely depressed.
 

generalkonrad

Member
10
The drivers will find jobs next day and for more money . So will the office people. There is a lot of opportunities in transportation in this country. I am not worried for them at all. Its a blessing for most people . Never mind the mechanics. Try to find one for $30/hr or less. Good luck . Heck. PatcoTrans will be standing at the gates and I am sure not alone !
 
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