It’s all over for DriverNet. The Kansas City-based company has voluntarily filed for bankruptcy, less than two months after it filed for bankruptcy protection.


Problems for DriverNet started to come to a head early this year, when the cash-strapped company lost out on a $4 million dollar infusion of cash, after the investor reportedly died just before the deal could be consummated.
At that time, DriverNet fired most of its staff and ended all marketing and development efforts. Officials also told Truckinginfo.com they would continue to keep their service up and running until a buyer could be found. But about two weeks ago, truckers began to report the kiosks at truckstops were down and the DriverNet web site was no more. Repeated calls to DriverNet’s headquarters were never answered.
In an exclusive interview, David Stover, the trustee in the case, said he had just received the DriverNet records and would be reviewing them in the next week to see what parts of the company could be sold off to pay creditors, one of which he described as a “large secured creditor.”
DriverNet was started in 1996 by private investors and put its first kiosk terminal in truckstops a year later. Since that time it grew to have more than 400 terminals where drivers, owner-operators and trucking companies could set up DriverNet e-mail accounts. Truckers could also receive electronic pay. In the past year DriverNet had also reached agreements with freight-matching service provider DAT Services to offer its services through DriverNet, and it most recently introduced a new wireless service for drivers and small fleet owners.

0 Comments