Carroll Fulmer Logistics, a Florida -based trucking company that has been working for over 70 years, firm.
The carrier had 400 trucks and 1,700 trailers. Some 600 employees will be dismissed as operations cease. The company plans to offer them a 60 -day departure compensation while it ends.
According to Clermont Sun, which broke up history, Carroll Fulmer attributes its financial misfortunes to an increase in prosecution and the challenges of the great freight recession – the deepest slowdown in the history of the freight market – which began in March 2022.
The news can be a shock; On May 15, asset lender Gordon Brothers offered a 27 million dollars credit line to Carroll Fulmer for the financing of assets and the working fund.
Carroll Fulmer is the last victim of the slowdown in freight, but many more carriers will probably follow.
According to channel controls by Freightwaves, many major private truck carriers perform operating ratios above 100, which means that they are not profitable and are unable to respond to their debts. The same goes for some of the greatest public. Heartland Express, one of the trucking pillars, pointed out an operating ratio of 106 in the second quarter, while the Tamper Transport truck division had a 112.5 gold.
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