350-Truck Refrigerated Carrier to Shut Down
Orlando, FL – Despite management’s best efforts to save Florida-based Cold Carrier Logistics (CCL), the company will be shuttering its operations at the end of February.
Multiple sources with direct knowledge of the refrigerated carrier’s plans confirm to Transportation Nation Network (TNN) the 368-truck business employing approximately 450 people will cease operations as of February 29, 2020.
CCL, owned by private equity (PE) firm KJM, includes: Salt Lake City, UT-based Interide Transport (88 drivers); Lexington, SC-based Gantt Trucking (102 drivers); and Lakeland, FL-based Sunco Trucking (159 drivers).
KJM was launched in 2014 and from 2015 through 2017 acquired five transportation businesses under the CCL parent company.
In September of 2019, CCL and its entities filed for chapter 11 bankruptcy protection in U.S. Bankruptcy Court for the Middle District of Florida.
Management indicated its intent to reorganize the company and continue operating.
It touted messages on its social media pages indicating, “We’re open for business,” and “No need to start over with another company.”
However, a last ditch effort to sell the company before a deadline of January 16, 2020 fell short, according to CCL bankruptcy attorney R. Scott Shuker.
“We had one final party that we were working with and had a letter of intent, and ultimately, they just backed out,” Shuker told the court in a January 28 recorded hearing.
Shuker asked the court to appoint a manager to oversee the winding down of operations.
Sources tell TNN the company began notifying employees this week of the impending closure.
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According to data from the Federal Motor Carrier Safety Administration (FMCSA), CCL companies employed 349 drivers and operated 368 power units.
CCL intends to help drivers get home and is offering to pay as much as $1,300 in bonuses to those drivers who choose to stay until February 21 when equipment must be properly returned, one source said.
More About CCL Companies
Gantt Trucking was found in 1965 and specializes in transporting temperature-controlled products for producers and food service companies primarily in Southeast, Midwest and Northeast markets.
KJM bought the company in April 2015.
According to its website, it serviced high density lanes including: Southeast to/from Northeast (NY, CT, MA & ME), Southeast to/from Texas, and Southeast to/from Midwest.
Sunco Trucking, LLC was founded in 1932 as Watkins Produce Company and later became Watkins Motor Lines (WML).
In 1997, WML acquired Sunco Carriers, Inc., and consolidated its refrigerated OTR operations into Sunco Trucking.
KJM purchased it in September 2016.
Sunco serviced high density lanes in the Southeast, Southwest, Northeast, Midwest and Upper Midwest.
Interide Transport was founded in 2009 and specialized in temperature-controlled transportation services.
KJM acquired it in December 2016.
It operated in approximately 30 states mostly in the Northeast, West, Midwest, Upper Midwest and some parts of the Southwest.
TNN will continue to follow this breaking news story.
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