Estes Express Lines has bid $15 million to acquire assets the Eastern Freight Ways and Carrier Industries divisions of New England Motor Freight, according to recent reports.
Estes Offers $15 Million for New England Motor Freight Assets
Estes Express Lines has bid $15 million to acquire assets of the Eastern Freight Ways and Carrier Industries divisions of the bankrupt carrier New England Motor Freight.
April 29, 2019
Estes Express Lines bid $15 million for the Eastern Eastern Freight Ways and Carrier Industries divisions of the bankrupt carrier New England Motor Freight.
Photo via NEMF Facebook page
1 min to read
The bid is part of NEMF’s chapter 11 bankruptcy proceedings, stemming from the LTL carrier’s decision to file for bankruptcy in early February. A decision on the $15 million bid will be made on May 16.
The New Jersey-based company stated that it had recorded losses in consecutive years and the damage was compounded by unsustainable increases to overhead.
The company determined that chapter 11 bankruptcy was the best way to maximize the value of its assets for the benefit of its employees and creditor constituencies.
For Estes Express, the acquisition would bolster the company’s flatbed truckload business. Estes is based in Richmond, Virginia, employing over 8,100 drivers with 6,700 vehicles and over 27,400 trailers.
More Fleet Management
ATA’s Spear Warns Fuel Prices, Trade Policy, and Global Conflict Could Stall Trucking Recovery
Speaking at the TMC Annual Meeting in Nashville, ATA President Chris Spear said trucking faces mounting pressure from rising fuel prices, geopolitical instability, and uncertainty around trade policy.
Read More →
New Entrants, Chameleon Carriers, and Safety: Is It Too Easy to Start a Trucking Company?
More than 100,000 new trucking companies enter the industry each year, but regulators manage to audit only a fraction of them. That churn creates opportunities for inexperienced startups — and for “chameleon carriers” that shut down after safety violations and reappear under new identities. Read more from Deborah Lockridge in this commentary.
Read More →
Fleet Managers Invited to Apply for Exclusive HDT Exchange Event
HDTX is an intimate event that connects heavy-duty trucking fleet managers with industry suppliers through small-group discussions, educational sessions, and structured one-on-one meetings.
Read More →
DAT Launches iPhone Widget to Help Owner-Operators Find Loads Faster
New DAT One feature shows top-paying loads directly on an iPhone’s home screen, helping carriers react faster to spot-market opportunities.
Read More →
Optimal Dynamics Launches AI System to Help Carriers Choose Better Freight
Optimal Dynamics says its new Scale platform uses AI agents and optimization to help carriers find and secure freight that improves network balance and profitability.
Read More →
DAT: Flatbed Demand Climbs as Van and Reefer Rates Soften
DAT Freight & Analytics data shows tightening flatbed capacity, easing produce markets, and softening van and reefer rates.
Read More →
Run on Less “Messy Middle” Data Shows Multiple Paths Forward for Truck Powertrains [Watch]
NACFE's Run on Less - Messy Middle project demonstrates the power of data in helping to guide the future of alternative fuels and powertrains for heavy-duty trucks.
Read More →
Federal Court Lets NYC Congestion Pricing Continue
A federal court ruling allows New York City’s congestion pricing program to continue, leaving truck tolls in place for fleets delivering into Manhattan.
Read More →
Fontaine Modification Launches Real-Time Truck Modification Tracking Portal
Fontaine Modification has introduced a new customer portal designed to give fleets real-time visibility into the truck modification process, addressing one of the most common questions fleet managers face: “Where’s my truck?”
Read More →
FTR: Trucking Conditions Index Climbs to Highest Level Since 2022
Strong freight rates, rising volumes and tighter capacity push trucking conditions higher, though diesel prices could temper gains in the near term, FTR cautions.
Read More →