MENU
SEARCHThe Celadon Group continues to restructure its assets in an attempt to create more liquidity, while it is being investigated by the Securities and Exchange Commission.
The Celadon Group continues to restructure its assets in an attempt to create more liquidity, while it is being investigated by the Securities and Exchange Commission (SEC).
The company, which owns Celadon Trucking and Celadon Logistics, as well as other subsidiaries, announced this morning that it has refinanced its revolving credit and extended equipment leases that were maturing in 2018.
Celadon’s short-term revolving credit restructuring was done through Bank of America, and has a maturity date at the end of fiscal 2017. In addition they received US $22.6 million in equipment term loans secured by existing tractors and trailers used in their Hyndman subsidiary.
Chief Executive Officer Paul Svindland said the company is making significant progress toward their goals, while acknowledging their financial results will continue to be uneven for the time being.
Other parts of the strategic plan have included selling off its flatbed division and flatbed assets in September, and focusing on the company’s irregular route truckload business.
Celadon also said it has identified excess truckload assets and real estate it will be selling.
“In terms of non-core assets, we exited the flatbed business and our driver-training academy in September, and we plan to exit three additional small businesses, including our Quality Companies lease servicing business, in coming quarters,” said Svindland.
Celadon has also disclosed it is the target of an SEC investigation. The SEC issued a subpoena to the company and is currently in the process of obtaining documents from Celadon. No further details of the investigation were released.
When the unexpected happens, how you react to, and deal with operational blind spots is critical. Here’s how to keep you recovery on track, when nothing is normal.
Read More →
As fleets adopt artificial intelligence for routing, maintenance, and load matching, new security risks are emerging. Learn where the vulnerabilities are and how to put the right controls in place.
Read More →
The long-awaited registration system promises a single portal — and tighter fraud controls.
Read More →
CargoNet reports fewer supply chain crime events to start 2026. But losses hold steady as organized crime shifts tactics toward impersonation schemes and high-value goods.
Read More →
Heavy Duty Trucking is searching for forward-looking leaders at trucking fleets as nominations for HDT’s Truck Fleet Innovators 2026. Deadline is May 15.
Read More →
Cargo theft rings plant operatives as drivers inside legitimate, fully vetted carriers, then execute coordinated thefts that look like a traditional straight theft from the outside.
Read More →
A modest sequential increase capped the strongest quarterly performance in years, signaling continued freight momentum in early 2026.
Read More →
More than 300 carriers across 26 states have been sent to collections as the Ohio Turnpike cracks down on toll evasion and delinquent payments.
Read More →
The American Transportation Research Institute will examine driver coaching, regulatory impacts — including the "Beyond Compliance" concept —and weather disruptions that shape trucking operations.
Read More →
Fleet Advantage's Brian Antonellis says it's time for fleets to get back to the fundamentals of good maintenance practices. And that includes replacing older, inefficient equipment.
Read More →
