Major trucking company shuts down, no bankruptcy yet
The iconic shipping company closed operations after major car manufacturers terminated business relationships.
The damage caused by the Great Freight Recession has been massive over the last three years, characterized by 88,000 trucking companies and 8,000 freight brokerage firms going out of business in 2023, according to data from Freight Caviar.
The industry distress continued into 2024, as the trucking sector had a net loss of about 10,000 carriers in the first half of 2024, TruckInfo.net reported.
