In some good news coming out of this sad story, according to the press release announcing the official bankruptcy, two Celadon subsidiaries – Taylor Express and the Mexican subsidiary, Jaguar Transportation – will continue to operate and will be sold off intact in a Section 363 Process. This method allows management, working alongside the creditors, to control the auction process and get the highest possible price for the companies. Keeping them intact allows Taylor Express and Jaguar to fetch the highest possible prices.
According to Taylor's website, the company describes itself:
Taylor Express was founded and incorporated in 1987 as a truck load carrier. The company has grown steadily since then by providing quality service offering real value to customers and by reinvesting in the company to assure financial stability.
We are a leading carrier in the tire and rubber industry, providing dedicated services on critical raw materials as well as transporting finished goods for the tire industry and many other well known companies like Kohler, Lowes Hardware and Purolator just to name a few.
Today, we have over 150 tractors. Each is equipped with Omnitracs hardware and Tom McLeod Software for route accuracy and control. We also have over 380, 53-foot dry vans and 298 specialized hopper trailers. All of our equipment is serviced at our operation centers in Hope Mills, North Carolina, and Union City, Tennessee. Maintenance facilities include full shop with wash bays, body and paint rooms.
In January, 2015, we became part of Celadon Trucking, Inc. This has increased our footprint in the trucking industry. With their support, we're able to cover even more loads across the midwest, northeast and southeast regions of the United States including Canada.
As reported earlier in FreightWaves, Jaguar Transportation, the Celadon-owned carrier based in Mexico, has indicated that it will remain operational and continue its cross-border shipping.
"Jaguar will operate in the same way it has been working. The situation that Celadon is going through does not compromise this company at all," Jaguar company officials said in an email to FreightWaves reporter Noi Mahoney.
However, Jaguar Transportation's webpage was removed on Dec. 9. It is not clear if the company's web address was changed or shut down. The company's Facebook page was still up.
Jaguar Transportation was listed as a wholly owned subsidiary of Celadon Group Inc. in a 2016 filing with the U.S. Securities and Exchange Commission.
Jaguar Transportation was founded in 1975 near Monterrey, Mexico, and acquired by Celadon in 1992. According to a 2018 marketing brochure, Jaguar Transportation said it had 450 trucks and 600 employees.
This is good news for the employees of Taylor Express and Jaguar Transportation, because it appears they will get to maintain their careers even after their ownership by Celadon is severed.
