Trucking Company Files Bankruptcy, 1000 Employees Lose Jobs: Blame Game Begins
1000 employees out of work as flatbed operator files for bankruptcy: It’s a harsh reality, a sudden jolt to a thousand lives and families. The news highlights the instability that can grip even seemingly essential industries like trucking. According to reports, Montgomery Transport, the company in question, saw its financial troubles begin earlier in the year. The situation took a turn when the principal owner, One Equity Partners, decided to exit the trucking industry, initiating the search for a buyer.
The proposed sale of Montgomery Transport to P and S Transportation was set to close at the end of September. However, a lawsuit and restraining order, reportedly filed by Rollins Montgomery, abruptly halted the process.… Continue reading
Matt Underwood