Celadon to Declare Bankruptcy; Could Leave Thousands of Drivers Stranded

According to Business Insider, Celadon Trucking plans to file for bankruptcy by December 11. It would potentially be the largest truckload bankruptcy in history.

Business Insider reported the company’s troubles had been exacerbated by the SEC’s December 5 indictment of two former Celadon executives who had allegedly been involved in a multi-year, multi-million-dollar accounting fraud.

Business Insider added the bankruptcy could leave the 3,200 drivers employed by Celadon potentially stranded as fuel cards could be turned off before routes are completed.

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