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Freight transportation firm shuts down in U.S.

September 04, 2002|by TARA REILLY

Consolidated Freightways Corp., a Vancouver, Wash., freight transportation company with an office in Hagerstown, has shut down its U.S. operations, the company said Monday.

The move leaves 15,500 employee across the country without jobs, according to a written statement from the company. The statement said the company had planned to file for Chapter 11 bankruptcy.

No one was available Tuesday at the Hagerstown office at 351 E. Antietam Road to comment on how many local employees are affected.

The company's spokesman in Vancouver could not be reached for comment Tuesday.

Consolidated Freightways was founded in Portland, Oregon in 1929 and provides freight transportation, airfreight forwarding and supply chain management services throughout North America, according to a written statement.

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Operations of the company's Consolidated Freightways AirFreight and Canadian Freightways Ltd. subsidiaries are continuing normally, according to the statement.

The release stated the company had "been vigorously exploring ways to restore the financial health of the company," but those plans didn't work.

"Unfortunately, this has not been the case. Nor do we have the current resources necessary to sustain the business without additional financial resources," according to the statement.

- Tara Reilly

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