Texas-based U.S. Logistics Solutions has filed for bankruptcy liquidation, stating that its lender pulled the plug on its funding, which forced the company to shutter operations Thursday and left a disputed number of truck drivers, dock and warehouse workers, and sales and office personnel without jobs.
In a statement to FreightWaves Tuesday, a spokesperson for Ten Oaks Group, the private equity firm that owned the company, said its “third-party lender refused to move forward with financial...
About 2,000 truck drivers, warehouse and dock workers, and office personnel of Humble, Texas-based U.S. Logistics Solutions (USLS), formerly Forward Air Solutions, say they were blindsided late Thursday when they were notified via conference calls or by text messages that the company was ceasing operations and that they would not receive paychecks Friday.
Eric Culberson, former president of USLS, confirmed the closure in a LinkedIn post on Saturday, stating that thousands of workers were without...