Bankruptcies exacerbate freight woes
Aug 27, 2014 | 04:36 PM
| Nathan Laliberte
NEW YORK A rash of recent bankruptcies in the trucking industry has shippers concerned that domestic freight rates, which have surged over the past 12 months, could push even higher through year-end.
More than 10,000 trucks were taken off the road in the first quarter as a result of bankruptcies, according to Donald Broughton, chief market strategist at Nashville, Tenn.-based Avondale Partners LLC.
"Companies that were formerly financially stressed have become even more financially stressed and are exiting the industry," Broughton said Aug. 20 at the annual Commercial Vehicle Outlook Conference in Dallas. "Its bad news for the industry, its bad news for capacity and bad news for those business owners who spent lifetimes building those businesses."....
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