Waco, Texas, headquartered motor carrier Central Freight Lines will close after nearly 100 years in operation, according to multiple reports.
Less-than-truckload (LTL) carrier Central Freight Lines will begin winding down operations early next week. The news was first reported by FreightWaves on Saturday. Current employees have already been notified of the pending company closure.
Company leaders cited mounting debts and unpaid bills as a reason for the abrupt closure right before the holidays.
Central Freight Lines employs about 2,100 workers, including 1,325 truck drivers.
Company leaders are reportedly in talks to sell off equipment and to work with other carriers on job opportunities for laid off workers.
Central Freight Lines was founded in 1925 by W.W. “Woody” Callan Sr. as the “Central Forwarding and Warehouse company.” In 1929, Callan separated Central Forwarding’s household goods moving business, which became known as Central Forwarding, Inc., from the company’s general freight transportation known as Central Freight Lines, Inc.
Central Freight Lines went public in 2003, and in 2006 transitioned back from a publicly traded company to a privately held enterprise through a merger with North American Truck Lines, LLC and Green acquisition Company, controlled by Jerry Moyes.
This is the largest trucking company closure since Celadon shut its doors just before the holidays two years ago. On December 9, 2019, Celadon officially filed for Chapter 11 bankruptcy protection and announced that they were immediately shutting down their operations. An estimated 4,000 Celadon workers were suddenly laid off weeks before Christmas, including thousands of truck drivers.
This is a developing story.