New England Motor Freight Files Voluntary Chapter 11 Petition

[ralphthetrucker]

New England Motor Freight Files Voluntary Chapter 11 Petition

ELIZABETH, N.J.--(BUSINESS WIRE)--Feb 11, 2019--New England Motor Freight, Inc. (the "Company" or "NEMF") today announced that the Company and ten related entities have voluntarily filed for relief under Chapter 11 of the Bankruptcy Code in the U.S.

www.apnews.com

 

[truck05]

Too little to late?

General RateIncrease (GRI) Effective Monday, February 4, 2019

General RateIncrease (GRI) Effective Monday, February 4, 2019 - New England Motor Freight

Dear Valued Customer: NEMF has implemented a 5.4% general rate increase effective Monday, February 4, 2019. All published floor minimum charges will be increased by $3.00 While NEMF remains committed to our customer’s expectations we are faced with increased costs associated with regulatory...

www.nemf.com

 

[Henry]

They could still recover. They have been around for a long time, its ashamed.

 

[Shakey]

They could still recover. They have been around for a long time, its ashamed.

Following two years of losses, and with continuing and unsustainable rises in overhead as well as a severe industry shortage of drivers, we have concluded that the Company has no choice but to proceed with an orderly wind-down of operations in a Chapter 11 proceeding.”