New Century Transportation, Inc., a trucking company in Westampton, told its nearly 1,500 workers Monday the business had filed for bankruptcy and closed its doors. Stunned drivers and workers milled around the New Century parking lot Monday morning, talking and planning their next move. Some said they received letters from New Century about the closure, others heard the news after pulling their semi rigs into the Rancocas Park East industrial site that houses the trucking firm.
The the Better Business Bureau website had recently pulled their rating. New Century, launched in 2000, specialized in the less-than-truckload deliveries. Theories about the cause of New Century's demise were many among industry professionals. The issue that seems to have everyone in agreement was the exceptionally low freight pricing and servicing too many minimum shipments in to large a service area. Basically spreading themselves too thin at an unsupportable price point. The company had a fleet of nearly 2,000 trucks, according to its website. The absence of that many assets is certain to leave shippers with freight on their docks for extended periods and the prospects of higher transportation prices.
Submit a comment