U.S. Trucking Units File for Bankruptcy--problems with computing systems blamedgreenspun.com : LUSENET : Grassroots Information Coordination Center (GICC) : One Thread
Friday December 1 9:09 AM ET U.S. Trucking Units File for Bankruptcy
CHARLESTON, S.C. (Reuters) - U.S. Trucking Inc. (USTK.OB), a transportation services holding company, said on Friday four subsidiaries will liquidate their assets in a bankruptcy filing after industry weakness and problems with computing systems led to a ``a difficult operating year.''
UST Logistics Inc., Mencor Inc., Prostar Inc., and Gulf Northern Transports Inc. filed for Chapter 11 bankruptcy protection in U.S. Bankruptcy Court in Florida, and will liquidate their assets.
U.S. Trucking said the ``loss of revenues from these companies will dramatically impact consolidated revenues and earnings as a whole.''
Shares of U.S. Trucking closed Thursday at 13 cents per share.
-- Carl Jenkins (firstname.lastname@example.org), December 01, 2000
I can hear the rumbling :-§
-- spider (email@example.com), December 02, 2000.