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Celadon Bankruptcy: The Inside Story & Stranded Drivers [FreightWaves Exclusive]
['Freightwaves Staff', 'July', 'Min Read']
Yahoo Finance
SummaryView TranscriptPaul Svindland, former CEO of Celadon, reveals the emotional toll of the company's bankruptcy.
He recounts how FreightWaves breaking the news prematurely led to chaos, stranded drivers, and fuel cards being shut off during the harsh winter of 2019.
Svindland shares his candid thoughts on the challenges of a massive trucking turnaround and his new chapter with Mallory Alexander.
To service its debt load, Celadon had already sold its A&S division and Celadon Logistics unit, and was targeting a return to operating ratios in the low 90s.
Svendlund said the team has reviewed roughly 40 acquisition candidates but has not yet placed any under letter of intent.