Sudden shutdown of Schneider final-mile unit leaves furniture shippers scrambling for options
“When truckload and logistics giant Schneider National Inc. (NASDAQ:SNDR) acquired less-than-truckload (LTL) and truckload carrier Watkins & Shepard Trucking Inc. and final-mile and IT provider Lodeso Inc. in June 2016, it envisioned penetrating the business-to-consumer e-commerce category with a holistic, “first-to-final-mile” shipping service for furniture and carpeting orders.” – According to the article in freightwaves.com and its author
The vision died August 1 when Schneider said it would immediately halt the unit’s operations due to what the company called results that were “significantly below expectations.” The unit struggled mightily despite ongoing investments, the most recent being in mid-April when Schneider added middle-mile capabilities to connect the network’s multiple terminals. The Green Bay, Wisconsin-based concern said the unit lost $26 million in the first half of 2019 and was on track to lose another $9 million in the third quarter.- Solomon also wrote in his article.
Read the full story HERE
Source and credits: freightwaves.com /and Mario Pawlowski / iTrucker