FW: Bankrupt Celadon receives $14.5m bid for Taylor Express

FreightWaves writes:

Bankrupt Celadon Group Inc. has received a $14.5 million bid from White Willow Holdings to acquire its North Carolina-based subsidiary Taylor Express Inc. 

White Willow of Newfields, New Hampshire, is backed by Luminus Management LLC, a New York investment firm that tried to help Celadon financially. 

Luminus acquired nearly 50% of Celadon in August 2019 after injecting $165 million to help the struggling carrier refinance its debt as part of a restructuring plan just months before the now defunct company filed for Chapter 11 bankruptcy protection on Dec. 9.

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