Thousands of employees with Indianapolis-based Celadon are without a job. CEO Paul Svindland confirmed the company’s filing for Chapter 11 bankruptcy. He went on to say the entire company will shut down all business operations except for the “Taylor Express” subsidiary in Hope Mills, North Carolina.
After news surfaced of two former executives of Celadon were indicted by a grand jury, concerns about the company filing for Chapter 11 bankruptcy ballooned into reality.
Many Celadon drivers are being asked to return their truck in exchange for a bus ticket home.
Read the source article at Indianapolis News
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