Celadon trucking bankruptcy leaves some 3,000 drivers jobless and stranded

Dec 11, 2019 at 02:24 PM CST
An Indiana trucking company with nearly 4,000 employees said Monday that it filed for bankruptcy and will shut down all operations, just days after two former officials were charged in an accounting fraud scheme.The Chapter 11 bankruptcy filing by Indianapolis-based Celadon Group left more than 3,000 drivers jobless and, in many cases, stranded across the U.S. after their company gas cards were cancelled, according to local media reports. Another 500 administrative jobs are expected to be eliminated through the bankruptcy, the company said Monday.Celadon has faced significant costs related to a federal investigation of the fraud scheme and also must deal with debt and "enormous challenges" in the industry, chief executive Paul Svindland said in a statement.

Dec 11, 2019 at 02:24 PM CST

An Indiana trucking company with nearly 4,000 employees said Monday that it filed for bankruptcy and will shut down all operations, just days after two former officials were charged in an accounting fraud scheme.The Chapter 11 bankruptcy filing by Indianapolis-based Celadon Group left more than 3,000 drivers jobless and, in many cases, stranded across the U.S. after their company gas cards were cancelled, according to local media reports. Another 500 administrative jobs are expected to be eliminated through the bankruptcy, the company said Monday.Celadon has faced significant costs related to a federal investigation of the fraud scheme and also must deal with debt and "enormous challenges" in the industry, chief executive Paul Svindland said in a statement.