Disaster: Truckers Stranded as Transportation Giant Folds, Shuts Off Fuel Cards
It’s an absolute disaster in the trucker community.
Transportation giant Celadon filed for bankruptcy Monday, leaving 3,000 truckers without a job just weeks before Christmas. Many of these hardworking Americans are now stranded on U.S. highways as the company shuts off fuel cards, The Washington Post reported.
“I had a feeling something like this was going to happen. I just wasn’t expecting it of this magnitude,” former Celadon driver Isabella Mills told WTHR.
According to Mills, things weren’t always this bad.
Earlier this year, Mills was driving about 4,000 miles per week. She had no problem earning money by taking as much work as she could with the company. Now, things have taken a turn for the worst.
“There’s a lot of trucks broken down,” Mills said. “I know about 20 trucks out of fuel. Many are sitting at truck stops waiting for a load who is now stranded because of everything that’s going on.”
Company leadership has already instructed many truckers on what to do with their equipment and loads. Without functioning fuel cards, however, those responsible for the trucks may have to spend hundreds of dollars of their own money for the diesel to make it to their final destination.
Although Celadon is offering drivers bus tickets home after the trucks have been returned, for those who lease their equipment, this is a major blow to their careers.
“Mad is not the word. Pissed is not the word,” driver Melinda Lindsey told WTHR. Lindsey, along with her husband, leases their truck.
“If we lose our truck we’ve got to start all over. I’m 50 and he’s 53. We can’t afford to pay $80,000 again.”
The collapse of Celadon comes after the announcement of indictments against former company officers. A former COO and a former CFO have both been charged with securities fraud and other high-level financial crimes for taking part in falsely inflating the company’s value.
After allegedly cooking the books, the officers’ scheme came crashing down and cost shareholders tens of millions of dollars.
Although Celadon is soon to be no more, drivers who once traveled the country for the company may soon find themselves in high demand.
Trucking and logistics companies appear to be scrambling to grab drivers now left unemployed by the collapse of Celadon. Though the company’s folding leaves thousands of people unemployed, it comes amidst a shortage of drivers in the trucking industry.
Several companies are now trying to lure former Celadon drivers with sign-on bonuses.
Despite receiving the worst career news possible, it looks like former Celadon drivers could soon be back on the road again.
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