Creditors circle, but Cargologicair could still rise from the ashes
Administrators are investigating a potential sale of Cargologicair (CLA), as creditors swirl around what was ...
Another day, another trucking company bites the dust. Or, in the case of many US companies, bites the dust before rising like a phoenix from the ashes of Chapter 11. This time it’s 67-year old Comcar, and it’s not coming back. A holding company for four trucking firms, and one truck repair and parts distribution company, according to Business Insider, Comcar plans to sell all five, and in the meantime keep its daily business going – some relief to its 2,000 staff, of which nearly half are drivers.
It will come as little surprise to an industry that saw 640 trucking companies go bust in the first half of last year alone.