With all freight delivered, CF shuts down
Consolidated Freightways Corp. (CF), which filed for bankruptcy protection in September, announced last night that it has delivered all its remaining freight and has shut down its U.S. trucking operations.
The company also said it is continuing to market all of its U.S. truck terminal properties and equipment, either individually or as a whole. Assets for sale also include the company's continuing operations in Canada and Mexico, and its freight-forwarding subsidiary, CF AirFreight.
"There is a great deal of interest in the company's assets," chief executive John Brincko said. "A number of substantial parties have come forward and are in various stages of discussion with the company."
"Our continuing objective in selling assets is to maximize the value of the company's estate to benefit the company's stakeholders," Brincko said.
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