NEMF - New England Motor Freight Files for Bankruptcy, Plans to Wind Down Trucking Operations [View all]
In a move sure to shake up the regional less-than-truckload freight market in the Northeast and Mid-Atlantic states, New England Motor Freight filed for bankruptcy Feb. 11 and said it intends to wind down all of its trucking operations.
The Elizabeth, N.J.-based company announced the move on its website after absorbing losses over the past two years, according to a statement by Vincent Colistra, described as the company’s chief restructuring officer.
“We have worked hard to explore options for New England Motor Freight,” Colistra wrote, “but the macroeconomic factors confronting this industry are significant.”
Established in 1977, NEMF is part of the Shevell Group of Cos. and was a major provider of less-than-truckload freight service in the metropolitan New York and New Jersey region, although its service extended throughout the Northeast and Mid-Atlantic corridor and into Canada.
https://www.ttnews.com/articles/new-england-motor-freight-files-bankruptcy-plans-wind-down-trucking-operations
