Trucking Company Shutdowns Grow as Shipping Market Cools

Aug 30, 2019 at 07:18 AM CST - 1
Trucking company failures are rising as faltering freight demand exposes operators unprepared for a downturn after last year’s red-hot shipping market. Approximately 640 carriers went out of business in the first half of 2019, up from 175 for the same period last year and more than double the total number of trucker failures in 2018, according to transportation industry data firm Broughton Capital LLC. This week, Denver-based HVH Transportation Inc. abruptly shut down, stranding about 150 drivers and loads out on the road. The closure adds to a 2019 tally that includes Ohio truckload company Falcon Transport Co. and regional less-than-truckload carriers New England Motor Freight Inc. and LME Inc.

Aug 30, 2019 at 07:18 AM CST

- 1

Trucking company failures are rising as faltering freight demand exposes operators unprepared for a downturn after last year’s red-hot shipping market. Approximately 640 carriers went out of business in the first half of 2019, up from 175 for the same period last year and more than double the total number of trucker failures in 2018, according to transportation industry data firm Broughton Capital LLC. This week, Denver-based HVH Transportation Inc. abruptly shut down, stranding about 150 drivers and loads out on the road. The closure adds to a 2019 tally that includes Ohio truckload company Falcon Transport Co. and regional less-than-truckload carriers New England Motor Freight Inc. and LME Inc.