Originally reported by FreightWaves, Central Freight Lines, a trucking company that employs over 2,000 workers and about 1,300 truck drivers is shutting down. Central Freight Lines is a regional trucking company operating in the Southeastern and Southwestern areas of the US.
Central Freight Lines History and Context
Central Freight Lines was headquartered in Waco, Texas, as the base for its southern operations. The company has been around since its founding in 1925 as Central Forwarding Warehouse Company.
The company specialized in less-than-truckload (LTL) freight, which means drivers would make deliveries to multiple receivers because each delivery takes up “less than” the entire space in the trailer.
The closing of Central Freight Lines represents the largest trucking company to close since Celadon filed for bankruptcy almost exactly two years ago, in 2019. The Celadon closure affected thousands of truck drivers.
Why did Central Freight Lines Close?
Reportedly, unpaid bills and increasing losses are the main cause of closure. Central Freight Lines was one of four companies in the trucking industry to receive the maximum $10 million in government assistance as part of the Paycheck Protection Program in 2020, but this money, designed to help companies suffering from the pandemic, was not enough to keep the company afloat.
According to reports, the company will begin liquidating its equipment and will work with other carriers to find jobs for their workforce.
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