Celadon will buy BMC assets

March 13, 2002
Truckload conglomerate Celadon Group is buying certain assets from bankrupt Burlington Motor Carriers (BMC), which filed for Chapter 11 protection in July of last year. Celadon wants to buy tractors and trailers, customer contracts and lists, office equipment and other items from Foothill Corporation, a secured lender to Daleville, IN-based BMC. However, Celadon must await bankruptcy court approval
Truckload conglomerate Celadon Group is buying certain assets from bankrupt Burlington Motor Carriers (BMC), which filed for Chapter 11 protection in July of last year.

Celadon wants to buy tractors and trailers, customer contracts and lists, office equipment and other items from Foothill Corporation, a secured lender to Daleville, IN-based BMC. However, Celadon must await bankruptcy court approval for the sale.

Should the purchase go forward, Indianapolis-based Celadon added that it plans to offer positions to certain administrative, maintenance and driving employees of BMC, related to the amount of business that Celadon ultimately acquires.

Celadon operates a fleet of more than 2,600 tractors and 7,000 trailers.

About the Author

Sean Kilcarr | Editor in Chief

Sean previously reported and commented on trends affecting the many different strata of the trucking industry. Also be sure to visit Sean's blog Trucks at Work where he offers analysis on a variety of different topics inside the trucking industry.

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