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After closing without notice in early December, Akron, Ohio-based GDS Express has filed for bankruptcy. The company filed for Chapter 11 liquidation on Dec. 27, 2019, citing the shutdown of a revolving credit account.
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Celadon Group has announced that it has refinanced its former revolving credit facility and obtained $165 million in new financing.
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The financially troubled parent of several trucking companies, including YRC Freight, hopes to borrow $1.15 billion to refinance its debt, according to Bloomberg News.
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