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Celadon Logistics Services Inc

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Celadon Logistics Services Inc

December 10, 2019

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Did you deliver freight for Celadon Logistics Services Inc and not get paid? Did Celadon Logistics Services Inc MC# 547576 pay you for your services?

Celadon Logistics Services Inc MC547576 USDOT 2235629 is located out of 9503 E 33rd St Indianapolis, IN 46235 and lists 866-653-1549 and 317-972-7000 as phone numbers.

If you’re trying to get paid on Celadon Logistics Services Inc out of Indianapolis, IN MC: 547576 debt.

Make sure to call Jeremy at 1.662.268.9558 with Freight Broker Alert today.

Celadon Group on 12-9-19 filed for Chapter 11 bankruptcy in federal court in Delaware ceasing operations immediately!

Celadon Logistics Services Inc Indiana

Entity Type: BROKER
Operating Status: AUTHORIZED FOR Property
Out of Service Date: None
Physical Address: 9503 E. 33RD STREET INDIANAPOLIS, IN 46235
Phone: (317) 972-7000
USDOT Number: 2235629
FF-15618
MC-547576
Power Units: 0
Drivers: 0

CELADON LOGISTICS SERVICES MC#: 547576

CELADON TRUCKING SERVICES MC#: 185116

Celadon Group on Dec. 9 filed for Chapter 11 bankruptcy protection in federal court in Delaware, ceasing operations immediately in one of the largest bankruptcy filings for a trucking company in recent memory. The Indianapolis-based, publicly-traded trucking carrier employed more than 3,200 drivers and took in more than $1 billion in gross revenue as recently as 2015.

Celadon will be the largest truckload carrier to file bankruptcy in history. The north-south truckload carrier has 2,695 trucks, including 2,000 in the United States, 360 in Canada, and 335 in Mexico. The company is a dominant carrier on the I-35 corridor, running freight from Laredo to the Midwest, with a large concentration in the automotive sector.

Over-the-road drivers may be at risk of being stranded — our source could not verify that Celadon’s drivers would get home — and should fill their tanks at the earliest opportunity as the company’s fuel cards still work. Celadon’s 3,500 employees could lose their jobs soon.

On Dec. 5, the Securities and Exchange Commission filed civil and criminal charges against Celadon’s former president and former chief financial officer for their roles in the alleged securities and accounting scheme that took place in 2016 and 2017, in which they were charged with inflating the company’s income and earnings-per-share figures. The company ultimately had to restate some financial statements.

The company’s bankruptcy and likely shutdown will result in some capacity exiting the market at a time when the truckload market is struggling from over capacity. Large enterprise carriers running similar networks to Celadon will find new lane opportunities and a pool of high quality drivers. CFI, part of Transforce (TSX: TFII), is Celadon’s largest north-south competitor. PAM (NASDAQ:PTSI) is also likely to benefit, having deep exposure to the automotive sector and a large cross-border presence. Third-party logistics providers specializing in cross-border freight like Forager Logistics should also benefit from a sudden removal of NAFTA capacity.

Celadon in its bankruptcy petition listed assets of $427 million and debt of $391 million. The Federal Motor Carrier Safety Administration’s registry listed Celadon as having 2,771 power units and 2,553 drivers as of Oct. 25.

The only division that will remain open will be Taylor Express, which is headquartered in Hope Mills, N.C. Celadon said it will attempt to sell that company.

US Inspection results for 24 months prior to: 12/08/2019

Total Inspections: 0
Total IEP Inspections: 0
Note: Total inspections may be less than the sum of vehicle, driver, and hazmat inspections.

Inspections:
Inspection Type Vehicle Driver Hazmat IEP
Inspections 0 0 0 0
Out of Service 0 0 0 0
Out of Service % 0% 0% 0% 0%
Nat’l Average %
(2009- 2010) 20.72% 5.51% 4.50% N/A

Crashes reported to FMCSA by states for 24 months prior to: 12/08/2019

Note: Crashes listed represent a motor carrier’s involvement in reportable crashes, without any determination as to responsibility.

Crashes:
Type Fatal Injury Tow Total
Crashes 0 0 0 0

Canadian Inspection results for 24 months prior to: 12/08/2019

Total inspections: 0
Note: Total inspections may be less than the sum of vehicle and driver inspections. Go to Inspections Help for further information.

Inspections:
Inspection Type Vehicle Driver
Inspections 0 0
Out of Service 0 0
Out of Service % 0% 0%

Crashes results for 24 months prior to: 12/08/2019

Note: Crashes listed represent a motor carrier’s involvement in reportable crashes, without any determination as to responsibility.

Crashes:
Type Fatal Injury Tow Total
Crashes 0 0 0 0

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