Light speed logistics inc, bankrupt?
- Thread starter Elliot
- Start date
30
If he's looking to repo their trucks and trailers... best place to start looking would be in the ditches between here and Alberta
This could be owner operator for Light speed.
Have seen many trucks on Auction with company name and they actually are Owner operators. But still
30
Ocean Trailer in EDM has a hold on their equipment (not letting any wagons leave their yard).
Shakey
Site Supporter
30
Noticed that and also, They used to have load posted almost every day but did not notice any for this week.
They owe a load of money to carriers that were pulling their trailers for them I hear, this is going to hurt a lot of the little guys in central Canada.
Sorry for their pain but happy to see lightspeed go, well deserved.
Sorry for their pain but happy to see lightspeed go, well deserved.
10
If they are ripping off other carriers and not paying then I am Happy As Hell they are gone! They probably opened up another 5 companies by now.
15
30
3 different receivers? All but done IMHO. Each one has a different part of the business wow sounds like a nightmare. 2018-2020 trailers repoed must of already done a refy already as they should of been clear being that old. Good luck but 11-17 may be open a little more if they are gone.
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30
What an insensitive take. A shutdown like this isn’t something to celebrate, whether you liked how they operated or not. There are families behind those jobs, and a lot of people are about to face unpaid wages and subcontractor losses. In this economy, that’s not an easy hit for anyone to swallow.
Here is the MNP receivership information on behalf of the BDC.
Here is the Doane Grant Thorton receivership information on behalf of CIBC.
www.doanegrantthornton.ca
Creditor updates
Updates for creditors, limited partners, investors and shareholders.
2
I don't find it insensitive. I do feel sorry for the employees but there are too many now in this industry that cut rates and screw the honest working people. Perhaps a few more should fall by the way-side to improve our industry.
Shakey
Site Supporter
30
2
This company has had numerous insensitive employees/people working in the background not paying vendors, employees and assisting in this mess. Those people should be ashamed of themselves. They should have walked away months ago and not partake in this business of manipulating ways to extend the life of this company. The company should have flat-lined and called DOA months ago.
Celebration-maybe not the right word but it had to be done sooner or later.