NationsWay Files For Bankruptcy
NationsWay Transport Services, Commerce City, CO, unexpectedly shut its doors after filing for bankruptcy May 20.
NationsWay Transport Services, Commerce City, CO, unexpectedly shut its doors after filing for bankruptcy May 20.
President Jerry D. McMorris told the Denver Post that the company could no longer compete with smaller, mostly nonunion carriers.
According to published reports, McMorris said he was pressured by the Central States Pension Fund, to which NationsWay owed $2.3 million. But Doug Whetstine, president of Teamsters Local 961 in Denver, said McMorris only had to make good on $600,000 of the $2.3 million to stay in business.
The bankruptcy left more than 1,000 employees out of work in Denver and 3,500 unemployed nationally.
ABF Freight System bought access to the customer list.
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