Yellow | Trucking Company Gds Express Files For Bankruptcy, Says Bank Shut Off Credit

[Freightmaster1]

https://www.beaconjournal.com/busin...iles-for-bankruptcy-says-bank-shut-off-credit

According to court documents, the following related businesses, called debtors under bankruptcy law, filed:

‒ GDS Express Inc., Hilbish Avenue, Akron.

‒ GDS Express Group Inc., Hilbish Avenue, Akron.

‒ Business Transportation Services Inc., Hilbish Avenue, Akron.

‒ G&M Towing & Recovery LLC, East 55th Street, Cleveland.

‒ Noble’s Inc., East 55th Street, Cleveland.

‒ Nuway Logistics Group LLC, State Route 7, New Waterford.


‒ Wills Trucking Co., State Route 7, New Waterford.

‒ Better Management Corp. of Ohio Inc., State Route 7, New Waterford.

‒ Container Management Services LLC, Hilbish Avenue, Akron.

While Chapter 11 bankruptcy law allows financially troubled companies to reorganize and start anew, the GDS filings call for liquidation.

 

[Jaloc]

I hope they didn't bring Jamie back to do a Chapter 11 bankruptcy reorganize start anew while dumping the Union and pension liability like they did at Hostess?

https://www.theatlantic.com/busines...ankruptcy-wall-street-unions-or-carbs/265357/

https://abcnews.go.com/Business/twinkies-return-hostess-unions/story?id=19043854

"It appears that they are discharging the union contract in bankruptcy,"

 

[wongway]

Look at the BIG picture they didn't bring Jamie back for nothing ????

 

[skullcramp]

I hope they didn't bring Jamie back to do a Chapter 11 bankruptcy reorganize start anew while dumping the Union and pension liability like they did at Hostess?

https://www.theatlantic.com/busines...ankruptcy-wall-street-unions-or-carbs/265357/

https://abcnews.go.com/Business/twinkies-return-hostess-unions/story?id=19043854

"It appears that they are discharging the union contract in bankruptcy,"

Good question, I think he'll try the MOU first, then BK. Sad thing is most of the youngsters will have a big glass of koolaid and stay. They'll believe the one big happy family scenario, start ratting each other out, before long, the place collapses under its own weight.