News / Shock for 4,000 staff as battle to save Celadon ends in bankruptcy

A driver at Celadon in happier times

Some 4,000 staff face losing their jobs after US trucking company Celadon Group filed for Chapter 11 bankruptcy in the early hours of this morning. 

Drivers received the bad news in their cabs shortly after midnight.

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The announcement followed a move by the SEC on Thursday to charge two former executives at the Indiana company with accounting fraud.

Former Celadon president and chief operating officer William Eric Meek and former chief financial officer Bobby Peavler have been accused of trying to conceal losses via a scheme to buy and sell ...