Major trucking company to shut down, no bankruptcy plans
The major trucking company will shut down and lay off all employees by the end of August.
Severe economic issues in the trucking industry over the last three years, a period which has been known as the Great Freight Recession, have forced companies to downsize operations, close down their businesses, and in some cases file for bankruptcy.
The most common problems shipping companies have encountered are reduced shipping demand, lower freight rates, and rising costs of labor, fuel, and insurance.
