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Financially embattled Celadon Group announced that it has made another step toward refinancing the company, as it continues to restructure while under investigation by the Securities and Exchange Commission.
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Amid a financial restructuring and an investigation by the U.S. Securities and Exchange Commission, Celadon Group has announced the appointment of a new independent director to its board.
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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.
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Days after it announced it was selling off its flatbed division, Indiana-based Celadon said it’s getting out of the driver training business.
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Celadon Group has announced that it completed the disposition of all assets associated with its flatbed trucking division to a subsidiary of PS Logistics, a flatbed-focused transportation and logistics provider.
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Celadon Group has announced the appointment of Paul C. Svindland as chief executive officer, effective on or about July 24, succeeding Paul Will who will retire as CEO and chairman of the board.
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Celadon Group announced that it has been notified by the New York Stock Exchange that it has failed to meet the exchange's listing standard, which could result in the company’s stock being delisted.
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One of the biggest names in trucking reported first quarter earnings this week showing it had turned its fortunes around for the better, while losses grew at another fleet and a third’s financial problems were surrounded not only by questions of its accounting practices but also about its long-term survival.
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Celadon Group has announced changes in its top management and a new line of credit, noting that it expects to report a significant operational loss for the first quarter of the year.
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Fleet earnings reported this week so far are varying widely, ranging from record numbers at one carrer to another barely eking out a profit, and one carrier delayed in reporting due to an investigation into its accounting practices.
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