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TRUCKING BANKRUPTCY * USA - Nearly 500 truckers went under in the first quarter as freight slump continues
Nashville,TENN,USA -Purchasing, by Dave Hannon -28 April 2009: -- According to a quarterly report from market analyst Donald Broughton at Avondale Partners, 480 trucking companies in the U.S. went out of business in the first-quarter of this year. That’s roughly 1% of the capacity exiting the market in a three-month period... But despite the dramatic demise in the carrier base, Broughton says the capacity exiting the market is still not so much that it would tighten supply enough that it will impact trucking rates or prices. As reported by the Associated Press, Broughton estimates that more than 5% of the current trucking capacity would have to exit the market before capacity would match up with demand and prices would stabilize... Earlier this month, for example, Bond Transfer Co. a 61-year-old, family-owned trucking business in Baltimore filed for Chapter 7 bankruptcy protection, according to the Baltimore Sun...
Labels: trucking bankruptcy
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