Carrier blames weak freight market, bad lease deal as a reason bankruptcy
Story by: Clarissa Hawes @ FreightWaves
Family-owned Hendrickson Truck Lines Inc. of Sacramento, California, recently filed for bankruptcy protection, citing a soft freight market, loss of two key customers and a bad truck leasing agreement.
In its filing with the U.S. District Court for the Eastern District of California, it listed assets and liabilities as being between $10 million and $50 million.
Robert Destfino, vice president of sales of Hendrickson, declined to comment about the company’s recent bankruptcy filing when contacted by FreightWaves.
The carrier, which operates in 10 western states, lists up to 49 creditors.
The carrier has about 90 trucks and 97 drivers, according to the Federal Motor Carrier Safety Administration SAFER website.
The carrier previously filed for Chapter 11 protection in June 2015 after the California Labor Commissioner’s office found that 17 of its truckers were misclassified as independent contractors when they were actually employee drivers. The drivers were awarded nearly $2 million.
Story continues HERE @ freightwaves.com
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Source and credits: freightwaves.com /Clarissa Hawes / iTrucker / Mario Pawlowski