Anyone have info?

[loaders]

This is probably nothing more than idle driver chatter, but we have been hearing recently of some possible trouble brewing at Pride Logistics. I would never want to start or spread rumours but if there is anything more to this, I would be interesting in hearing about it. They are a rather large player in our industry, regardless of what you might think of their operational practices.

 

[LrgCar]

This is probably nothing more than idle driver chatter, but we have been hearing recently of some possible trouble brewing at Pride Logistics. I would never want to start or spread rumours but if there is anything more to this, I would be interesting in hearing about it. They are a rather large player in our industry, regardless of what you might think of their operational practices.

Pride has been struggling ever since the decline of truck and equipment prices, they ate up a lot of inventory at high prices and are moving equipment at a loss, but that's on their equipment sales side. I don't think at least from talking to some folks there that they are in any financial danger but who really knows the truth These days I would be careful extending anyone large amounts of credit period.

 

[Fr8Guru]

Were they not renting out consumer vehicles at one point as well?

I swear I got an email or 2 from them offering Telsa's

Edit - https://www.insidelogistics.ca/carbon-emissions/pride-group-orders-tesla-trucks-173426/

That's a large amount of capital spent.

 

[Rob]

Back before pride one of the guys involved owned another outfit that was in the rumor mill. Friday his fuel supplier called him and said blah blah about the rumor not true all good etc just dump a b train of fuel at each yard about 1.5 was his outstanding invoice. Monday at 10am same guy walked in and dropped bankruptcy ppwk at the courthouse. No idea of how much he has to do with Pride but I would be very wary if the mill is churning.

 

[artmax]

isn't there someone from pride on the forum who can better address this?

 

[theman]

I know there is significant foreign $ backing it. Unless the industry has totally taken a crap, they're fine. I bet they make more money on used equipment sales than anything else.