Don’t Keep on Truckin’

Written by CFB Blogger. Posted in Blog

New Century Transportation, a trucking company based in Westampton, New Jersey, has ceased operations and has filed Chapter 7 bankruptcy. The bankruptcy has reportedly put 1,500 former employees out of work. From information obtained by Truckinginfo.com, the decision to file bankruptcy occurred when New Century’s lender “’unexpectedly declined to continue funding regular business operations. New Century apparently took “’immediately took steps to seek financing and other alternatives including a sale of all or part of the company, in order to continue operations, but to date, its efforts have been unsuccessful.’” According to an article by Evan Lockridge appearing in Heavy Duty Trucking, the trucking company, whose CEO is Terrence Gilbert, specialized in truckload and less-than-truckload services with a fleet of 2,000 trucks. In a news story in Transport Topics, New Century had been ranked the 45th largest truckload carrier in the U.S and Canada by revenue last year, with $127 million in business. It was also ranked as the 30th largest LTL (less-than-truckload) carrier, with $144 million in business. New Century Transportation, which also operated affiliates North Wind Logistics and Western Freightways, was founded in 2000. Just six years later, Harry Muhlschlegel, New Century Transportation’s founder, was named an HDT (heavy duty trucking) Truck Fleet Innovator for his innovative TL/LTL model and early adoption of such innovations as wide-base single tires. If you need to file Chapter 7 or Chapter 13 bankruptcy, you need the knowledgeable and experienced bankruptcy attorneys from Client First Bankruptcy to help you with all of your legal proceedings. We have successfully guided thousands of consumers like you to the discharge of their overwhelming debts. Log onto our interactive website at www.clientfirstbankruptcy.com and call us toll-free at 800-383-6004 for your free initial consultation.  Our empathetic lawyers answer their phones Monday-Friday from 8:30 a.m. to 6:00 p.m. Central Time so you can get the answers to some of your most pressing questions at a time that is convenient for you. It could be the key to your financial freedom. Don’t wait even one more day; call us now.