- Flatbed carrier Montgomery Transportation shut down Oct. 9 and is expected to file for Chapter 7 bankruptcy next week after a failed sale to PS Logistics.
- The collapse followed One Equity Partners’ June decision to exit trucking amid weak freight rates, high maintenance costs and an aging fleet.
- About 650 employees lost jobs as Montgomery became one of the largest casualties of the prolonged freight recession, with industry peers moving to hire its drivers.
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Flatbed carrier Montgomery Transportation closed its doors Oct. 9 and is expected to file for Chapter 7 bankruptcy early next week, a source close to the situation told Transport Topics.
A representative of One Equity Partners, which owns a controlling stake in Montgomery, declined to comment when reached by TT…