Certified Freight Logistics shutting down after 95 years

Likely less economy as moronic policys in commifornia combined with a hostile to industry government and the economy just was the coup de grace

 

I was gonna guess the reason is they just took on too much debt .
And the higher interest rates and freight slowing down combined are squeezing them from both sides .

in the Great Depression most companies
Didn’t have the debt ratio they all have now . The money simply wasn’t available to borrow .

 

I heard they had most of their equipment dedicated to Costco freight and lost the contract

 

This is exactly what happened. On KR's Podcast there was a trucking co. owner based in Ca. that was talking about this company that had, I think he said like 93% of their business dedicated to 1 customer, Costco. He was saying they had just been notified they were no longer needed. His point was when you have a lot of trucks you have to be diversified in your customer base or this is what can happen.

 

Yep

I worked at a place , not trucking , that had one contract with one client that was 98% of their work .

you better make sure you never lose that contract

 

Remember back in the 90s minority owned trucking company in Michigan had a contract with GM.They told him he needed to upgrade his terminal,he spent a million dollars,then GM didn't renew the contract.Drivers came to work chains on the gates.

 

Exactly on both points. Well said. With my employer even though we do Walmart dedicated loads we don’t solely rely on those for revenue. We diversify with Coke,Pilgrims Pride and a few other places to keep the revenue stream flowing!

 

A little late here. But I remember seeing their trucks all the time at the Aspen Distribution in Victorville when I did gate guard there in the mid 00s. Seemed to be run like a tight ship then. Now it's a goner.


On another note, a company I briefly drove for out of North Hollywood back in 2008, Wolfe Trucking, also seems to have gone under. Terrible place. Guess they could only run outlaw for so long. Guess being a reefer outfit and hauling food just isn't going to be enough these days.