Late January 11, LTL carrier New England Motor Freight filed for bankruptcy protection saying the organization would go out of business.
New England was founded in 1977 and said it would use the bankruptcy proceedings to conduct an “orderly wind-down” of its business; chalking up the filings to a combination of high labor costs and the ‘severe’ driver shortage. NEMF (New England Motor Freight) is the nation’s 19th-largest LTL carrier with revenues exceeding $402 million in 2017.
Majority of industry leaders were aware that NEMF was having problems; however, no one anticipated a bankruptcy filing and subsequent shutdown.
