1
JBT & HERITAGE
- Thread starter jamesf
- Start date
1
and why is that, transport compagnies move frequently that has nothing to do with non payment. even there score on link is still good.
30
Moving i agree yes, this was an outright downsize. their yard was pretty big if memory serves me right, and their for sale sign was bigger. Also LL scores are a sham, remember, carrier non-payments don't get reported to the credit bureau. As long as you take care of paying the factoring companies and your bills, your credit score stays stellar. the only way non payments to carriers can be reported onto a debtors score was through the BBB, which i think they stopped doing a while back due to lawsuits but i could be wrong.
JBT Transport Inc. et al. (the “JBT Group”), Ontario-based end-to-end transportation companies serving customers across North America, filed an NOI on January 24.
In February 2022, the JBT Group expanded its business by acquiring various entities to allow it to expand its services. Unfortunately, shortly after the expansion, in September 2022, market conditions declined and the companies faced a significant downward trend in their cross-border transportation operations.
Commencing in December 2023, the companies attempted to improve their lending relationship with TD Bank and repaid a significant amount of the debt owed. However, TD Bank, still owed about $16.2 million in December 2024, demanded repayment in full. As a result, the companies filed an NOI to conduct a SISP while maintaining going concern operations in an attempt to safeguard employment for 83 full-time employees and preserve value for stakeholders.
Dodick Landau is the proposal trustee.
Counsel is Reconstruct for the JBT Group.
In February 2022, the JBT Group expanded its business by acquiring various entities to allow it to expand its services. Unfortunately, shortly after the expansion, in September 2022, market conditions declined and the companies faced a significant downward trend in their cross-border transportation operations.
Commencing in December 2023, the companies attempted to improve their lending relationship with TD Bank and repaid a significant amount of the debt owed. However, TD Bank, still owed about $16.2 million in December 2024, demanded repayment in full. As a result, the companies filed an NOI to conduct a SISP while maintaining going concern operations in an attempt to safeguard employment for 83 full-time employees and preserve value for stakeholders.
Dodick Landau is the proposal trustee.
Counsel is Reconstruct for the JBT Group.
Here are the public documents: https://dodick.ca/public_documents/...management-inc-and-waydom-management-inc-col/
15
You aren't kidding.
Obv Highlight and All Routes are good sized companies but 100k is gonna hurt.
Some big numbers here.
2
30
They are still at it. Hearing of carriers on the no pay list are taking their loads and demanding payments for everything they owe. Probably not a lot of fun around there right now.
They are trying to restructure their debts to stay in business. I would steer away from giving them credit them until they are out of bankruptcy protection as you won't be getting paid until then.
This company is not paying their bills. Key people have left the company taking business from them. I've heard from people in the industry that the President of the company is not an honest person, over leveraged the company, doesn't treat employees, vendors as customers well, has had legal troubles in the past. Note that this company operates under JBT, Heritage Transportation and Drumbo transport.
Last edited: