Celadon Bankruptcy Imminent

I despise those two people in management whoe Stole so much money

I don't believe they stole money. I believe they lied about their finances and exaggerated how well the company was doing.

Thats very dishonest of them to do that and keep expectations up like that and then bankrupt and put people out of a job. Thats not right.

I despise those two people in management whoe Stole so much money

I don't believe they stole money. I believe they lied about their finances and exaggerated how well the company was doing.

Thats very dishonest of them to do that and keep expectations up like that and then bankrupt and put people out of a job. Thats not right.

I'd say everyone would agree, including the federal government, which is why it's a federal crime. They'll be going to jail for a long time if they're convicted of the charges brought against them.

So this chapter 11 bankruptcy, does that mean that they cant come back and be reborn again with a new set up of management and dispatchers and drivers? It would be nice to see this company make a come back.

Thats very dishonest of them to do that and keep expectations up like that and then bankrupt and put people out of a job. Thats not right.

I'd say everyone would agree, including the federal government, which is why it's a federal crime. They'll be going to jail for a long time if they're convicted of the charges brought against them.

So this chapter 11 bankruptcy, does that mean that they cant come back and be reborn again with a new set up of management and dispatchers and drivers? It would be nice to see this company make a come back.

I'm sure they could if they could secure the financing. I have no idea if they will or not.

So this chapter 11 bankruptcy, does that mean that they cant come back and be reborn again with a new set up of management and dispatchers and drivers? It would be nice to see this company make a come back.

Chapter 11 is a "reorganization" which means their intention is to continue company operations. Chapter 7 bankruptcy is a "liquidation" meaning they intend to sell the company assets, pay of creditors, and then cease existence.

Chapter 11 can be "converted" to a Chapter 7 either by the debtor or the creditors.

Well thats encouraging to hear! Im excited to see them make a strong and courageous comback. Stricter background checks for their management and daily inspections of paperwork by 5 different inspectors every day have one of them check the paper work and computers and finances to keep fraud out of their company for good. That my idea.

So this chapter 11 bankruptcy, does that mean that they cant come back and be reborn again with a new set up of management and dispatchers and drivers? It would be nice to see this company make a come back.

Chapter 11 is a "reorganization" which means their intention is to continue company operations. Chapter 7 bankruptcy is a "liquidation" meaning they intend to sell the company assets, pay of creditors, and then cease existence.

Chapter 11 can be "converted" to a Chapter 7 either by the debtor or the creditors.

I've seen allot of talk on Social media about this. Especially on the Tic Tok social media app Most of it has been outreach to drivers that might be still be stranded out on the road. Though I've seen a couple of videos posted that are advising Lease Op drivers to take their rigs home and keep them until the Lease Op drivers get what they may be owed. The argument being that there was no prior notification that Celadon was closing their doors. I'm not familiar with the details of a lease agreement but that doesn't sound right I'm sure if a driver did that there would be allot of grief. I've also seen videos discouraging drivers taking that course of action. It also sounds like most of the trucking companies are reaching out to the Celadon drivers with job offers which shows how this community comes together in a time of need.

Thats great especialy when something like this happens.

I've seen allot of talk on Social media about this. Especially on the Tic Tok social media app Most of it has been outreach to drivers that might be still be stranded out on the road. Though I've seen a couple of videos posted that are advising Lease Op drivers to take their rigs home and keep them until the Lease Op drivers get what they may be owed. The argument being that there was no prior notification that Celadon was closing their doors. I'm not familiar with the details of a lease agreement but that doesn't sound right I'm sure if a driver did that there would be allot of grief. I've also seen videos discouraging drivers taking that course of action. It also sounds like most of the trucking companies are reaching out to the Celadon drivers with job offers which shows how this community comes together in a time of need.

For second there it looked like Celadon was making a come back. They had scored a huge contract with Walmart, and was hauling their milk out of their Fort Wayne plant. Which they just opened after deciding to part way's with Deans food, and make their own. Cut out the middle man. Interestingly enough Deans loosing Walmart is a big reason why Deans just filed for Chapter 11. All of their drivers will probably be looking for work soon also. Crazy how many companies are going under at the moment. Way more than the ones that are making the news.

This is the reason I'm looking into a trucking career! Im a soon to be ex Dean Foods employee